Banyan Partners LLC, a Palm Beach Gardens, Fla., investment advisory firm specializing in customized investment portfolios, has bought Weiss Capital Management Inc, an independent registered investment advisory firm.

Effective immediately, Weiss will change its name and become part of Banyan Partners. The company’s executives and key employees will be absorbed as part of the new firm. The price of the deal was not disclosed.

Combined, the company will managed over $1 billion in assets. It will remain based in Palm Beach Gardens, regional offices in New York, Boston, Atlanta, Memphis and Naples, Fla. By combining, Banyan and Weiss advisors will be able to offer a broader range of wealth services and even greater investment opportunities for clients nationwide.

Weiss, which is also based in Palm Beach Gardens, has been providing wealth management services for 25 years as an independent investment advisory firm.

Sharon Daniel, who was the president and Weiss and is now an executive vice president at Banyan, said the deal will give Weiss’ clients access to more products and services.

“In today's competitive global marketplace, economies of scale are becoming increasingly important to effectively deliver exceptional products, services and value to our clients. Our search for a firm with both a shared culture and many complementary synergies has us both excited and energized as we usher in a new level of customer care under the Banyan name.”