F.L. Putnam acquisition of Seascape Capital shows confidence in NH market

Lynnfield, Mass., company sees future expansion beyond Portsmouth deal

Tom Manning is CEO of F.L. Putnam, a Massachusetts-based financial service company that recently acquired its second company in New Hampshire, an indication of how much confidence FLP has in the market here. (Courtesy photo)

F.L. Putnam (FLP), a growing financial services company based in Lynnfield, Mass., is bullish on New Hampshire.

Its acquisition of Seascape Capital in Portsmouth is its second such investment here, an indication of just how much confidence FLP’s CEO Tom Manning has in the Granite State.

“We think the demographics for the state are great,” Manning said. “You have a lot of people that wind up relocating to New Hampshire, obviously, because of the beneficial tax environment. You’re seeing a lot of growth on the Seacoast, in particular. If you look at what’s going on in downtown Portsmouth, there’s a lot of people moving into the community.”

In July, FLP announced its acquisition of Seascape Capital Management LLC, an independent registered investment adviser based in Portsmouth, with more than $500 million in assets under management.

FLP had already made a foray into the Seacoast Region with the opening of an office at 29 Maplewood Avenue in Portsmouth in the fall of 2025. “We actually had a few of our team members that were commuting from Lynnfield, Massachusetts,” said Manning, noting that the Seascape acquisition fulfilled a greater purpose.

“A core part of our longterm growth strategy has been to expand FLP’s presence in the communities where our clients live and work. The opening of our Portsmouth office last year marked an important step in that strategy, and it has quickly become one of our key growth markets in the Northeast,” he said. “The addition of Seascape further strengthens our presence in New Hampshire and deepens our financial planning and investment expertise. Seascape serves clients with thoughtful, personalized advice, and we are excited to welcome Monica and her team to FLP.”

Seascape, currently located on Bow Street, was founded in 2003 and has been led by CEO Monica McCarthy.

“Joining FLP allows us to expand the breadth and depth of the services we provide while preserving the personalized approach and relationships our clients have come to expect over the past 23 years,” McCarthy said. “From our very first conversations with Tom and his team, it was clear we share the same client-first philosophy and long-term approach to helping families preserve and grow their wealth.

We’re excited to begin this next chapter together and provide our clients with access to the additional resources and expertise that come with being part of FLP.”

The entire Seascape team has joined FLP, and the current two offices will be consolidated into the FLP office on Maplewood Avenue, according to Manning. Financial terms of the transaction were not disclosed.

The consolidated office on the Seacoast joins an existing office in Wolfeboro, which opened in 2019 after FLP acquired Financial Focus, an independent registered investment advisor based there in the Lakes Region.

All told, FLP has 170-plus employees across 14 offices in Massachusetts, New Hampshire, Maine, Rhode Island, California, Michigan, New York and Virginia. In the months ahead, Manning said FLP will also have a presence in Florida and Wisconsin.

And he’s not done thinking about the possibilities in the Granite State.

“We’re keeping our minds open to having an office up on the (Interstate) 93 corridor as well,” Manning said.

FLP, founded in 1983, has a diversified list of financial services available to its clients — investments, estate planning, tax strategies, to name but a few. “We really can do more than just simply manage someone’s money,” Manning said.

He said the company continues to eye growth opportunities, to leverage technology and understand new regulations to best serve employees and clients.

“If you’re not growing, you’re falling behind, and our goal is to try to stay at the forefront of this industry and not slide,” Manning said. “We’re going to continue to invest a lot back into the firm, a lot back into our people. At the end of the day, every year, I believe we’re getting better and better at what we do, and we’re becoming more and more valuable to our clients.”