BFS completed a merger with Napatree Capital.

BFS, an independent investment advisory firm, completed a merger with Napatree Capital, a client-centric investment management boutique. Financial terms were not disclosed. "BFS is an outstanding firm that has always been philosophically aligned with Napatree, both in terms of building relationships and serving the long-term goals of our clients. Merging with BFS allows us to draw on the resources of a larger organization, including a robust research operation, while maintaining the independence and integrity our clients have come to expect," Jeff Liguori, Napatree Capital Founder, Managing Partner and Chief Investment Officer.