Charlotte, North Carolina-based investment banking firm ButcherJoseph Financial Holdings bought Laffer Investments, a small RIA in Nashville, Tennessee, with six employees that was started in 1999 by noted economist Arthur B. Laffer and his son, Arthur B. Laffer Jr.
The elder Laffer recently received the Presidential Medal of Freedom and is best known for the Laffer Curve economic theory tying rates of taxation to the resulting levels of government revenue.
Explaining why his company decided to buy Laffer Investments, ButcherJoseph Financial Holdings CEO Jon Curley said: “Obviously, the value of the iconic brand is significant.” But he told ThinkAdvisor: “More important is the investment team, distribution channels and expertise of the Laffer firm.”
The purchase closed Friday and adds about $600 million in assets under advisory to the affiliate of investment banking firm ButcherJoseph & Co., Curley told ThinkAdvisor.
“Laffer Investments was a perfect fit to join the ButcherJoseph family of companies,” Curley said in a statement, adding: “We are particularly excited to have Dr. Laffer joining us and agreeing to chair our advisory board.”