The Bank of New York Co. has signed a definitive agreement to acquire Beacon Fiduciary Advisors, the company announced today. Beacon is a privately held asset management firm based in Chestnut Hill, Mass. The terms of the agreement were not disclosed.

Beacon manages more than $700 million in assets for approximately 350 high-net-worth investors in equity and balanced accounts, as well as trusts. In addition, the firm also offers estate services.

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