Raleigh, N.C.—September 13, 2021—CAPTRUST Financial Advisors (CAPTRUST) today announced the launch of Direct Fiduciary®, a comprehensive retirement plan solution for small companies, in collaboration with T. Rowe Price and National Benefit Services (NBS). Direct Fiduciary offers plan sponsors the ability to improve plan outcomes, lower costs, and outsource fiduciary responsibilities to industry experts—all while maintaining flexibility as an individual plan.
The Direct Fiduciary program allows companies to significantly reduce the amount of time spent managing their 401(k) plans by outsourcing administrative and investment fiduciary responsibilities. CAPTRUST will provide 3(38) investment management services, as well as participant investment advice, and NBS will act as the third-party administrator (TPA), 3(16) plan administrator, and primary contact for employers. T. Rowe Price will be the recordkeeper and the day-to-day contact for plan participants.
As part of the program, CAPTRUST will assist plan sponsors with navigating certain fiduciary responsibilities that are not fully outsourced, including ongoing monitoring and due diligence of the plan’s service providers and determining fee reasonableness. CAPTRUST will also provide virtual investment advice to plan participants through managed accounts and give plan sponsors the option to add one-on-one participant advice and financial wellness services. Links to both the virtual and one-on-one participant advice offerings from CAPTRUST are integrated within T. Rowe Price’s website.
“We designed Direct Fiduciary as an alternative for plan sponsors considering other aggregate models, including multiple employer plans (MEPs) or pooled employer plans (PEPs),” said Jennifer Doss, senior director and defined contribution practice leader, CAPTRUST. “We have created a premium service at a price point that is the same or less than most plan sponsors currently pay and are excited to offer smaller organizations an opportunity to leverage our collective scale and expertise while maintaining control of their plan.”
Unlike PEPs and MEPs, which may limit the plan sponsor’s ability to work with certain payroll providers or utilize certain plan design features, Direct Fiduciary is an individual employer-sponsored retirement plan, allowing organizations to customize it to meet the unique needs of their employees.
“The types of plans that we expect to most benefit from this type of program are those with around $10 million in assets, though the offering could certainly work with both larger and smaller plans,” continued Doss. “CAPTRUST has over 1,000 401(k) plan clients that are under $10 million in assets, so we understand the unique needs of the small employer and how that can vary company by company. We know plan sponsors want holistic advisory services, not just a 3(38) investment manager to design the plan’s investment menu.”
“For small business owners, this offering creates immense value by allowing them to take advantage of a package of services that are difficult for smaller plans to obtain in one offering,” said Kevin Collins, head of retirement plan services, T. Rowe Price. “Together with CAPTRUST and NBS, we are positioned to offer a cost-effective and efficient solution that will allow these businesses to offer their plan participants the opportunity to save for a successful retirement.”
“With Direct Fiduciary, plan sponsors reduce the time spent managing their retirement plans by outsourcing administrative and investment oversight,” said Andy Lovell, vice president, strategic partnerships, NBS.
Direct Fiduciary is available now for plan sponsors. For more information, visit https://www.captrust.com/captrust-direct-fiduciary/.
About CAPTRUST
Founded in 1997 in Raleigh, North Carolina, CAPTRUST is an independent registered investment advisor. The firm provides investment management, financial planning, estate planning, and tax advisory and compliance for individuals and families. For retirement plan sponsors, endowments, foundations, and religious entities, CAPTRUST offers investment advisory services, fiduciary support, plan design, provider analysis/fee benchmarking, and employee advice programs. With nearly 900 employees across 60 locations nationwide, CAPTRUST oversees more than $70 billion in assets under management and more than $630 billion in assets under advisement (as of June 30, 2021).
About T. Rowe Price
Founded in 1937, T. Rowe Price (NASDAQ-GS: TROW) is an independent global asset management company with $1.62 trillion in assets under management as of July 31, 2021. The firm is focused on delivering investment excellence and retirement services for institutional, intermediary, and individual investors. Our strategic investing approach, driven by independent thinking and guided by rigorous research, helps clients feel confident in pursuing financial goals. For more information, visit
troweprice.com, Twitter, YouTube, LinkedIn, Instagram, or Facebook.
About NBS
National Benefit Services, LLC was founded in 1986 as a family-owned, independent business, focused on providing solutions to employee benefit plans. NBS provides services to more than 25,000 employers sponsoring a variety of single and multiple employer plans, consumer driven healthcare plans, and COBRA benefits. Headquartered in Salt Lake City, UT, NBS maintains offices in Texas, California, and Hawaii in addition to their almost 300 employees spread throughout the country.
Waltham, M.A., July 15, 2021 – Alegeus, the market leader in consumer funding technology, selected CAPTRUST Financial Advisors (CAPTRUST) as the registered investment advisor (RIA) for its modern HSA investment solution. Through this partnership, CAPTRUST, which advises more than $600 billion in assets and manages more than $60 billion, will oversee the investment process and select funds to power the fully automated solution within the Alegeus HSA investment experience.
Alegeus announced the new HSA investment solution in June at the company’s 2021 Alegeus Client Success Summit. The solution features real-time and fractional trading, a fully automated robo-advisor, and a range of investment strategies to accommodate investor risk levels. The platform also offers three distinct investing models for a tailored investment experience that meets the needs of a range of investors, from novice to expert.
CAPTRUST provides investment advisory services for retirement plan sponsors, endowments, foundations and individual investors, including building and managing discretionary portfolios. In addition to managing the platform’s investments, the firm will provide research and assist with the overall program management that is a core part of the Alegeus HSA.
“Too often, individuals forget that HSAs can be a highly effective retirement savings tool and don’t realize the powerful benefits they can achieve by investing in these tax-efficient accounts,” said Scott Matheson, managing director, institutional group at CAPTRUST. “We are excited to bring CAPTRUST’s deep expertise and thought capital from the 401(k) industry to the HSA space. The Alegeus solution is leading-edge and goes beyond anything that currently exists in the HSA market, and we’re thrilled to bring our extensive investment management experience to help power it.”
“We knew CAPTRUST was the right choice to provide advisory services because their team understood right off the bat what we were trying to accomplish,” said Chris Rodkey, vice president of customer solutions and strategy at Alegeus. “To disrupt the HSA investment market, we needed a partner who could provide financial and investment insights and perspective to match what we bring to the table from the consumer funding side. We look forward to helping more consumers invest their funds for growth.”
In joining this partnership, CAPTRUST will become a leading RIA in the HSA investment space. Learn more about the Alegeus HSA investment solution here.
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Alegeus is the market leader in consumer funding solutions, delivering the industry’s leading white-label platform that transforms how consumers save and pay for healthcare. Our next-generation technology simplifies the administration of healthcare benefit accounts (including FSAs, HSAs, HRAs, wellness incentive, dependent care and commuter accounts) and COBRA, using data-driven insights to guide consumers to the best coverage, cash and care strategies. More than 350 Alegeus clients – including health insurance plans and third-party administrators – leverage our deep expertise and proven technology to administer benefit accounts for more than 30 million members and to process more than $9.1 billion in consumer healthcare payments annually. As part of the Vista Equity Partners portfolio of companies, Alegeus benefits from increased capital for strategic investments, access to exceptional toolkits, best practices and resources for success, and strong cultural and value alignment focused on talent development and growth. The company is headquartered in Waltham, MA with operations in Orlando, FL and Milwaukee, WI.
Founded in 1997 in Raleigh, North Carolina, CAPTRUST is an independent registered investment advisor. The firm provides investment management, financial planning, estate planning, and tax advisory and compliance for individuals and families. For retirement plan sponsors, endowments, foundations, and religious entities, CAPTRUST offers investment advisory services, fiduciary support, plan design, provider analysis/fee benchmarking, and employee advice programs. With nearly 900 employees across more than 50 locations nationwide, CAPTRUST oversees more than $60 billion in assets under management and more than $600 billion in assets under advisement (as of June 1, 2021).
Seventeen CAPTRUST advisor teams were recently named to Barron’s prestigious 2021 Top 100 Institutional Consulting Teams list. The teams and their lead advisor were ranked as follows:
CAPTRUST advisors gained six additional spots on the coveted list, which was increased this year to the top 100 teams, from 50 last year. The firm represents nearly 20 percent of the 100 spots for 2021.
For this ranking, Barron’s recognizes the nation’s top teams specializing in investment consulting for defined contribution and defined benefit plans, endowments, and foundations.
Nominees were evaluated on a range of criteria, including institutional investment assets overseen by the team, client tenure, revenue generated by those assets, number of clients served by the team, and the number of team members. The Barron’s scoring systems also considered teams’ advanced professional designations.
The full list can be viewed here. Congratulations to all the winners!
Pensions & Investments recently awarded CAPTRUST a first place Eddy Award for communication excellence in financial wellness.
The financial wellness category highlights efforts that go beyond employees’ financial well-being in a traditional retirement program. CAPTRUST was recognized for providing comprehensive financial education, risk management, and access to investment advice tailored to an individual’s risk profile and long-term goals.
A total of 68 communication campaigns were honored with Eddy Awards in six categories: plan conversions/403(b) consolidations, financial wellness, plan transitions, pre-retirement preparation, ongoing investment education, and special projects.
To see the full list of winners, click here (a subscription may be required).
The National Association of Plan Advisors (NAPA) named 26 CAPTRUST teams to the prestigious Top Defined Contribution (DC) Advisor Teams list for 2020.
The Top DC Advisor Teams list highlights the nation’s leading retirement plan advisory firms with at least $100 million in DC assets under advisement as of December 31, 2020. CAPTRUST was the firm with the most teams that made this year’s list.
CAPTRUST’s 2020 NAPA Top DC Advisor Teams are:
Congratulations to all of the honorees! To see the full listing of NAPA’s Top DC Advisor Teams, click here.
RALEIGH, N.C. – March 9, 2021 – CAPTRUST Financial Advisors (CAPTRUST) today released the findings from its annual Endowment & Foundation Survey, highlighting the unique needs of nonprofits with long-term investment assets between $10 million and $250 million. The firm surveyed 171 organizations, including private foundations focused on religious, educational, and other charitable missions.
The survey was conducted in August and September 2020 and included questions around the impact of COVID-19, return objectives, fundraising, and portfolio risk, among others. When considering the impact of the global pandemic, the same proportion of nonprofits (31 percent) reported a suspension or termination of programs and services as those that identified an increase in programs and services, highlighting the critical services that many of these organizations provide (e.g., soup kitchens and churches).
“Many nonprofits had to balance the challenges of the current environment, but these organizations are rising to the occasion by continuing to serve their constituencies,” said Grant Verhaeghe, senior director, endowment and foundation practice leader at CAPTRUST. “The reality is that the pressures on each type of organization are unique, but despite that, there are some commonalities as they work together to meet the needs of the communities they serve.”
When it comes to investments, about a third of respondents (31 percent) are currently utilizing environmental, social, and governance (ESG); impact; or mission-aligned strategies. Nearly half of organizations not allocating to such investments (47 percent) indicate those strategies have not even been considered. Other reasons cited for not moving forward with one of these strategies is lack of a defined solution (23 percent) and complexity (16 percent), while expense (3 percent) and lack of manager track record (2 percent) were less of an issue.
“In past years of the survey, we had typically seen a greater adoption of ESG, impact, and mission-aligned investing among organizations with fewer assets. Now, larger organizations with more complex sets of stakeholders are catching up with their smaller peers,” said James Stenstrom, endowment and foundation director at CAPTRUST.
For nonprofits that use ESG, impact, or mission-aligned investing, more than three-quarters (78 percent) rely on negative screening, meaning they omit companies with business practices that do not align with their ethics rather than looking for organizations that exhibit desirable characteristics. Additionally, while ready-made ESG products continue to proliferate, 83 percent of organizations utilize custom strategies—at least in part—to fit their priorities.
For organizations’ overall asset allocations, two-thirds leverage tactical asset allocation. Those doing it internally—with the help of an investment committee, board of directors, and staff—consistently underperformed those leveraging an external party, such as an investment advisor or an outsourced chief investment officer.
“Seventy-one percent of organizations surveyed rely on internal investment committees or a board of directors to determine their tactical asset allocations,” said Stenstrom. “Especially in times of market volatility, there can be an advantage to working with dedicated, outside resources for investment advice, and we continue to see a greater number of nonprofits moving toward those services.”
The 2020 Endowment & Foundation Survey dives into a number of additional topics, including asset allocation, spending policy, and performance trends. The full findings can be found here.
Founded in 1997 in Raleigh, North Carolina, CAPTRUST is an independent registered investment advisor with a mission to enrich the lives of its clients, colleagues, and communities through sound financial advice, integrity, and a commitment to service beyond expectation. The firm provides investment management, financial planning, and income and estate tax compliance and consulting services for individuals and families. For retirement plan sponsors, endowments, foundations, and religious entities, CAPTRUST offers investment advisory services, fiduciary support, provider analysis/fee benchmarking, and participant advice. With more than 800 employees across more than 50 locations nationwide, CAPTRUST oversees more than $60 billion in assets under management and $600 billion in assets under advisement (as of February 15, 2021).
Seven of CAPTRUST’s advisors were recognized on the National Association of Plan Advisors (NAPA) 2021 Aces: Top 100 Retirement Plan Advisors Under 40 list.
Formerly the NAPA Young Guns, the rebranded Aces list recognizes young advisors at registered investment advisors and broker-dealer partners. Applications are reviewed by senior industry experts and ranked based on quantitative and qualitative data.
The seven CAPTRUST Aces are:
NAPA received more than 600 nominations for this year’s list, an increase of nearly 20 percent over last year. For more information, please visit here.
Congratulations to all of the winners!
RALEIGH, NC – December 1, 2020 – The CAPTRUST Community Foundation (CCF), a CAPTRUST employee-run 501(c)(3) foundation whose mission is to enrich the lives of children in local communities, today announced that the organization has donated $450,000 to 45 charities around the country in honor of Giving Tuesday.
In early November, each CAPTRUST office was given the opportunity to choose a nonprofit in their community to receive a $10,000 donation through the CCF as part of the Giving Thanks campaign. The only requirement for participating was that the organization helps to provide food, shelter, or other basic needs to families.
“With the holidays upon us, we wanted to be able to quickly get support to those who need it most in our local communities,” said Tiffany Larew, CCF president. “I am so thankful to my CAPTRUST colleagues for coming together to make a real impact in our communities.”
The Giving Thanks campaign was made possible through the generous donations from hundreds of CAPTRUST employees. Earlier this year, CAPTRUST CEO Fielding Miller announced that there would be no layoffs or furloughs at CAPTRUST as a result of the economy. Throughout the year, Miller encouraged employees to give what they could to the CCF in order to meet the firm’s mission of serving clients, colleagues, and communities. The result was an additional $4.8 million added to the CCF’s endowment.
The charities that are receiving a $10,000 donation are:
Founded in 2007, the CCF has awarded more than $2.25 million in grants to charitable organizations across the country that help children in need. In addition to the above donations, throughout 2020 the CCF has assisted more than 100 nonprofits through Emergency Crisis Grants and its annual National Grants and Charity of Choice. The CCF is an entirely volunteer organization run by CAPTRUST employees and sources fundraising primarily through employee payroll deductions that are matched by CAPTRUST.
To learn more, visit www.captrustcommunityfoundation.org.
Eleven of CAPTRUST’s advisors were recognized on the National Association of Plan Advisors (NAPA) 2020 Top Women Advisors list across three award categories: All-Stars, Captains, and Rising Stars.
NAPA Top Women Advisors: All-Stars are top advisors who have their own practices. This year, eight CAPTRUST advisors were on the list:
NAPA Top Women Advisors: Captains are advisors who are on the All-Stars list, but also are also team captains of their organizations:
NAPA Top Women Advisors: Rising Stars are top advisors who have less than five years of experience working on retirement plans as a financial advisor. Two CAPTRUST advisors were highlighted this year:
NAPA received a third more nominations than last year for these accolades. For more information, please visit: https://www.napa-net.org/napa-net-daily.
Congratulations to all of the winners!
CAPTRUST founded the Women’s Initiative in 2017 to grow and elevate its female advisor workforce—a longstanding issue across the financial services industry. Hear from our female advisors and senior leadership about how the Women’s Initiative is recruiting, retaining, and lifting up women advisors. The result has been a substantial increase in the number of female advisors at CAPTRUST in only a few short years.
To download a copy of the transcript, click here.