Courier Capital, a subsidiary of Financial Institutions Inc., has acquired Robshaw & Julian Associates, an investment adviser based in Amherst.
Robshaw & Julian, which was founded in 1979, has about $175 million in assets under management. Its owners, Stephen R. Robshaw and James P. Julian, are now Courier Capital officers and will continue to manage the former Robshaw & Julian portfolios.
The purchase price was not disclosed. Robshaw & Julian's entire five-member team joined Courier.
Financial Institutions is also the parent company of Five Star Bank and Scott Danahy Naylon. Courier Capital, which has offices in Buffalo and Jamestown, was acquired in 2016.