Bender Lane Advisory and Hugh Johnson Advisors Complete Deal to Combine Firms to Provide Greater Range of Financial Planning, Wealth Management and Investment Advisory Services

ALBANY, N.Y.–(BUSINESS WIRE)–Hugh Johnson and Dan Nolan of Hugh Johnson Advisors LLC (HJA) and Dan Rutnik of Bender Lane Advisory LLC (BLA) today announced that they have completed their agreement to combine firms. BLA, a highly regarded national multi-family office, and HJA, a widely respected asset management firm, are now operating under the parent name JNB Advisors LLC (JNB). JNB is based in Albany.

In addition, JNB is pleased to announce that it has opened a full-service office in Saratoga Springs, New York, located at Four Congress Park.

JNB has approximately $1.8 billion of assets under management. Both BLA, a multi-family office for ultra-high net worth families, and HJA, an asset management firm meeting the needs of individuals, institutional clients and non-profit organizations, will continue to maintain their identities as divisions of JNB. There is no change in their respective missions and all associates and principals of each organization remain part of the newly combined firm. Hugh Johnson is the Chairman and Chief Investment Officer of JNB, and Dan Nolan and Dan Rutnik are co-Presidents.

“We are very pleased that we are now one firm and we are excited about moving forward as one team,” Hugh Johnson said. “Our combined assets, resources and people will help us respond to the ever-changing world of finance. It is increasingly important that organizations are able to provide high-level, sophisticated financial planning to families of means while offering carefully developed asset management services using the best and lowest cost vehicles un-conflicted by a need to sell products. Our clients will benefit from this combination of strengths, and that’s what counts.”

Dan Rutnik added, “I have been eagerly awaiting this day as we can now fully utilize the power of each firm to serve clients better and be an ideal home for like-minded industry leaders.”

Combined firm provides unique range of advisory services, investment capabilities to wealthy families, individuals and non-profits

“The marketplace for both asset management and high quality advisory services has been evolving for more than 40 years,” Dan Nolan said. “The combination of our two firms provides a unique range of advisory services and investment capabilities that are sought after by a growing number of wealthy families, individual investors and non-profit organizations.”

About JNB Advisors LLC

JNB Advisors LLC (JNB) was formed by a combination of Bender Lane Advisory (BLA) and Hugh Johnson Advisors (HJA) on July 1, 2019. BLA was founded in 2002 by Dan Rutnik, who spent 20 years with AYCO, a Goldman Sachs Company that provides wealth management and other financial services to employees of corporate clients, family offices and investment management services to high net-worth individuals.

HJA was founded in 2005 by Hugh Johnson and many of the firm’s current employees. Prior to starting HJA, Hugh was the Chairman and President of First Albany Asset Management Company and an officer and director of First Albany Companies. In 2008, Dan Nolan joined HJA as President and Chief Executive Officer after spending 28 years at AYCO and Goldman Sachs.

JNB has 33 employees and is located at 4 Tower Place, Suite 1001, Albany, New York 12203.

Contacts

Steve Rose

The Rose Group LLC

203-329-8871 (o)

917-822-9672 (c)

[email protected]

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