Indianapolis-based Thurston Springer, an employee-owned broker-dealer and investment advisor, has acquired the Midwest fixed income trading group of Boenning & Scattergood in Pennsylvania. Boenning & Scattergood’s seven fixed income specialists are joining Thurston Springer in its new Columbus, Ohio office location.
Thurston Springer says it plans to continue its national expansion.
“We are thrilled to have this highly regarded fixed income team become part of Thurston Springer. Their addition will expand the firm’s service and product offering with a broad array of fixed income and secondary securities to a wide range of individual and institutional clients,” said Rick Parker, CEO of Thurston Springer. “We are pleased to expand our firm capabilities to support the growth of Thurston Springer and the investment needs of our national advisory base.”
Thurston Springer says it now operates 25 branch locations throughout the country.
“We are delighted to join Thurston Springer and become part of a high-quality team of industry and investment professionals,” said Stephen Cartwright, managing director. “Their broad platform allows us to service and expand our long-standing fixed income client relationships. During the acquisition process, we were impressed with Thurston Springer’s focus on high-quality service and tailored financial solutions to its client base. We are excited to play a role in the continued growth of the firm.”
Boenning & Scattergood was previously known as Sweney Cartwright & Co. Financial terms of the deal were not disclosed.