Boston, May 27, 2008 - Federal Street Advisors, independent specialists in investment consulting to families and foundations, today announced Kristin Fafard's appointment to the position of Director of Research.  Fafard was most recently Managing Director, Investment Research & Consulting at MassMutual Financial Group in Springfield, MA and brings almost 20 years' experience in financial services.

Federal Street successfully designs long-term strategies to meet individual client goals, and offers sophisticated advice that includes investment planning, selection and monitoring of outside investment managers, and financial coordination.  The firm has extensive knowledge of financial markets and boasts a remarkable record of finding world-class money managers.

Fafard will be responsible for research that guides the investment recommendations of the firm's 70-plus clients and over $5 billion in assets. She will be responsible for developing the firm's position on asset allocation and for evaluating and recommending money managers across traditional and alternative investments. 

"Our independent status places Federal Street Advisors on the same side of the table as our clients and allows us to offer impartial advice on the selection of money managers and investment opportunities," said John LaPann, President of Federal Street Advisors.  "The Director of Research will help us harness our considerable knowledge and experience for our clients' benefit." 

"I look forward to working closely with John and the rest of the firm to build on the already strong role that research plays in servicing clients," said Fafard. "I have led very strong research teams in the past and once again look forward to the challenge of strengthening this function in an independent environment where the client and only the client comes first."

Fafard, who is a holder of the Chartered Financial Analyst (CFA) designation and holds NASD series 6, 7, 63, 26 and 24 licenses, earned her bachelor's degree in Business Administration from the University of Massachusetts at Amherst's Isenberg School of Management.  She is a resident of Milford, Massachusetts, where she resides with her husband and four children.

Media Contact: Larry Marchese, Castle Shore Communications
                      lmarchese@castleshore.com