Boston Advisors Completes Acquisition of Babson-United Investment Advisory Business.Business Editors BOSTON--(BUSINESS WIRE)--May 31, 2002 Boston Boston, town, England Boston, town (1991 pop. 26,495), E central England, on the Witham River. Boston's fame as a port dates from the 13th cent., when it was a Hanseatic port trading wool and wine. Having recovered from a decline in the 18th and 19th cent. Advisors, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of The Advest Group, Inc., announced today that it has completed its acquisition of substantially all of the assets of Babson-United Investment Advisors Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and , Inc., a registered investment advisory firm. "Since the announcement of this acquisition in March, reactions from the clients of both firms has been extremely positive," said Michael Michael, archangel Michael (mī`kəl) [Heb.,=who is like God?], archangel prominent in Christian, Jewish, and Muslim traditions. In the Bible and early Jewish literature, Michael is one of the angels of God's presence. Vogelzang, President and Chief Investment Officer of Boston Advisors. "Our two firms share a similar approach to doing business - one that is committed to advising and serving the needs of our clients," he continued. "The combination of Boston Advisors and Babson United offers all of our clients access to more services and will help us further expand our business." The combined firm is headquartered in Boston's financial district and operates under the Boston Advisors' name. It comprises 20 investment professionals who manage approximately $3.5 billion in assets for affluent individuals, corporations, endowments and foundations. Boston Advisors was founded in 1974 and is the independent investment management subsidiary of The Advest Group, Inc. Established in 1904, Babson-United is owned by members of the Babson family and is based in Watertown, MA. All of Babson-United's Investment Counselors, its research department, and many of its key support staff have joined the combined firm. Lawrence Manning, Babson's Senior Vice President and Chairman of the Investment Committee, presently serves as Boston Advisors' Investment Committee Chair. Babson-United will retain and continue to operate its Securities Research Company (SRC (SouRCe) Contrast with DST, which is an abbreviation of "destination." ) division, the nation's oldest provider of independent stock charting information. About Boston Advisors Located in the heart of Boston's Financial District, Boston Advisors is a registered investment advisory firm actively managing approximately $3.5 billion in assets for affluent individuals, corporations, endowments and foundations. The firm was founded in 1974 and is a wholly owned subsidiary of The Advest Group, Inc. For more information about Boston Advisors, please visit www.bostonadvisors.com. About Babson-United Babson-United has provided independent, unbiased investment information and investment counseling services to individuals and institutions since 1904. Its division, Securities Research Company, is the nation's oldest provider of independent stock charting information. SRC's charts on equity securities, both Web-delivered and available in quarterly and annual print publications, are among the most highly regarded by institutional money managers and investment professionals. For more information about Babson-United and SRC, visit their respective web sites, www.babson.com and www.SRC1.com. About The Advest Group, Inc. The Advest Group, Inc. is the holding company of Boston Advisors. Its principal subsidiary, Advest, Inc., one of the country's leading regional financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firms, is headquartered in Hartford CT. Advest provides financial, securities brokerage, trading, investment banking, trust and other advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to its clients from over 90 offices in 18 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . Advest, a member of the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , American, and other principal exchanges, is a member of The MONY MONY Mutual of New York (Insurance - Syracuse, NY) Group Inc. For more information about Advest and The MONY Group, please visit their web sites, www.Advest.com or www.MONY.com. |
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