Boston Private Financial Holdings, Inc. (NASDAQ: BPFH) today announced the sale of RINET Company, LLC, to the RINET management team. Based in Boston, RINET is a wealth advisory firm catering to very high-net-worth clients and their families. The transaction is not expected to have a material impact on BPFH earnings or its financial position.

“We are pleased to have concluded this extremely amicable transaction,” said Jay Cromarty, CEO of BPFH’s Wealth Advisory and Investment Management Business. “The RINET management team approached us some time ago and after considerable discussions, we both concluded that a sale of RINET back to management was in the best interest of all parties. This transaction is a good opportunity for BPFH to reallocate resources toward the growth of our other affiliates in New England and elsewhere across the country. We have nothing but the highest respect for RINET and its valuable employees and wish them great success.”

Brian Rivotto will remain president and CEO of RINET and the firm’s management and personnel will not be changed. RINET will remain headquartered in Boston.

“We have greatly appreciated our time as part of the BPFH family and plan to continue working together as an independent company with BPFH affiliates to serve customers throughout the New England region,” said Mr. Rivotto of RINET. “This is an agreement that benefits our clients, employees, BPFH and all other stakeholders, and we look forward to continuing to provide the personalized, objective wealth advisory services our clients have come to expect from their RINET relationship.”

Boston Private Financial Holdings

Boston Private Financial Holdings is a national financial services organization comprised of independently operated affiliates located in key regions of the U.S. that offer private banking, wealth advisory and investment management services to the high net worth marketplace, selected businesses and institutions. The Company enters demographically attractive markets through a very selective acquisition process and then expands by way of organic growth. It employs a distinct business strategy, empowering its affiliates to run independently such that they can best serve their clients at the local level, while at the same time providing strategic oversight and access to resources, both financial and intellectual, to support management, compliance, legal, marketing, and operations. (NASDAQ: BPFH).

For more information about Boston Private, visit the Company's web site at www.bostonprivate.com.

Statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties. These statements include, among others, statements regarding our strategy, evaluations of future interest rate trends and liquidity, prospects for growth in assets, and prospects for overall results over the long term. You should not place undue reliance on our forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to significant risks, uncertainties and other factors which are, in some cases, beyond the Company's control. Forward-looking statements are based on the current assumptions and beliefs of management and are only expectations of future results. The Company's actual results could differ materially from those projected in the forward-looking statements as a result of, among other factors, adverse conditions in the capital and debt markets and the impact of such conditions on the Company's private banking and investment advisory activities, changes in interest rates, competitive pressures from other financial institutions, a deterioration in general economic conditions on a national basis or in the local markets in which the Company operates, including changes which adversely affect borrowers' ability to service and repay our loans, changes in loan defaults and charge-off rates, adequacy of loan loss reserves, reduction in deposit levels necessitating increased borrowing to fund loans and investments, the passing of adverse government regulation, the risk that goodwill and intangibles recorded in the Company's financial statements will become impaired, and risks related to the identification and implementation of acquisitions, as well as the other risks and uncertainties detailed in the Company's Annual Report on Form 10-K and other filings submitted to the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.