Raleigh, N.C. – October 13, 2021 – CAPTRUST Financial Advisors (CAPTRUST) today announced that Covenant Multifamily Offices (Covenant) has joined the firm. With offices in San Antonio, Dallas, and Boerne, TX, as well as Oklahoma City, OK, the wealth management firm brings to CAPTRUST more than $2.6 billion in assets across more than 500 clients.
Founded in 2010, Covenant offers a comprehensive suite of high value services—including family office services, wealth transfer planning, and tax preparation—in addition to its core wealth management offering. The firm is led by Founder and Managing Director John Eadie, along with Barry Beal, Justin Pawl, and Karl Eggerss. Forty-four additional team members will also join CAPTRUST.
“While we had previously been on the other side of the table, adding four firms since 2012, we knew that joining CAPTRUST was the right next step for Covenant when we saw the alignment of our two cultures, which both focus on serving our clients, colleagues, and communities,” said Eadie. “We’re excited to bring the advantages of CAPTRUST’s resources to our clients, which will enhance our high-touch, boutique client service model.”
In August 2019, CAPTRUST announced the addition of South Texas Money Management, giving the firm its first location in San Antonio.
“Over the past two years, we have seen tremendous growth in our Texas presence, particularly in the wealth management space. We now have nearly 100 employees in the state across nine offices,” said Rush Benton, senior director, strategic growth for CAPTRUST. “The addition of the Covenant team brings expanded resources for our growing high-net-worth and family office as well as an expanded footprint in the state of Texas.”
Covenant is the 52nd firm to join CAPTRUST since 2006 and will take on the CAPTRUST brand moving forward. Republic Capital Group acted as exclusive advisor to Covenant.
Today, CAPTRUST also announced the closing of the transaction to acquire Chicago-based Ellwood Associates. The firm adds an additional $90 billion in assets. With the addition of the Ellwood and Covenant teams, CAPTRUST now has more than 1,000 employees nationwide.
“Reaching the 1,000-employee mark is a huge milestone for CAPTRUST, and one that was only accomplished by everyone working together and pushing in the same direction to meet our goals,” said J. Fielding Miller, co-founder and CEO at 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 more than 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).
Raleigh, N.C. – October 6, 2021 – CAPTRUST Financial Advisors (CAPTRUST) today announced the appointment of Robert Miller to the role of chief financial officer (CFO). The firm today also announced that Marc Hermer, CFA, has joined the firm in the newly created role of director of portfolio trading and implementation. Both executives are based at CAPTRUST’s headquarters in Raleigh, NC.
As CFO, Robert oversees the company’s financials, including all reporting, budgeting, allocation, and financial analysis. As part of CAPTRUST’s leadership team, Robert executes the firm’s strategic direction by implementing key initiatives, allocating resources, and evaluating potential acquisitions to align with the firm’s mission and broader strategy.
Prior to joining the firm, Robert spent 17 years at Raymond James Financial in Tampa, FL. Most recently, he served as chief operating officer and chief financial officer for the Global Equities and Investment Banking Division of Raymond James & Associates. He also held the role of chairman and president of Raymond James International Holdings, where he managed the majority of Raymond James’s joint ventures and international operations—ranging from developed markets, including the UK and France, to emerging markets, including Argentina, Brazil, Turkey, and India.
Robert held several positions with American Express before Raymond James, including director of institutional risk analysis. Robert holds a Bachelor of Arts degree in economics and political science from the University of North Carolina at Chapel Hill and a Master of Business Administration degree from the Wharton School of Business, University of Pennsylvania.
Marc Hermer serves as a director of portfolio trading and implementation within CAPTRUST’s Investment Group. He leads the investment and trading teams in all trade generation and execution processes, data management, and portfolio management functions.
Prior to joining the firm, Marc led the overlay investment strategy team at Merrill Lynch, supporting the management and implementation of over $500 billion of AUM across 600 model portfolios. He was the primary architect of Merrill’s centralized wealth portfolio management platform and was responsible for developing new investment strategies and writing rebalancing algorithms. Marc holds a Bachelor of Arts degree in economics from Dartmouth College.
“We are pleased to add these two highly qualified individuals to our leadership team at CAPTRUST,” said Ben Goldstein, president at CAPTRUST. “Both Robert and Marc have a strong history in the financial services industry and will help us to deliver on our promise to provide service beyond expectation.”
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 more than 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).
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.
Raleigh, N.C. – August 26, 2021 – CAPTRUST Financial Advisors (CAPTRUST) today announced an agreement for Chicago-based Ellwood Associates (Ellwood) to join the firm. Ellwood is expected to add to CAPTRUST around 200 clients representing $85 billion in assets.
Ellwood serves endowments and foundations, retirement plans, hospitals, family offices, and high-net-worth individuals. A total of 55 Ellwood employees will be joining CAPTRUST, including a seasoned team of consultants with an average of 20 years of industry experience.
“When looking for the next step for Ellwood, we knew we wanted to be a part of a majority employee-owned firm to continue our own legacy of employee ownership,” said Timothy Egan, who will join CAPTRUST as a principal.
“Our ability to remain objective and put our clients’ needs first has been a guiding force for our firm since 1977. We know that CAPTRUST shares these same core tenets, and we believe our clients will benefit greatly from the new resources they will have access to as part of CAPTRUST,” said Daniel George, who will also join CAPTRUST as a principal.
In addition to a sizeable endowment and foundation practice, Ellwood will also bring added alternative investment expertise to the CAPTRUST investment team.
“Ellwood has long been a firm that we have admired for their dedication to their clients,” said Rick Shoff, CAPTRUST managing director, advisor group. “As with all of the firms that join us, we believe they will make us better from day one and provide access to new offerings that our entire firm will benefit from.”
The addition of the Ellwood team will also give CAPTRUST its first location in Chicago, as well as a bolstered presence in Denver. The firm added its first Denver location in 2020, when Shine Wealth Partners joined CAPTRUST.
The transaction is expected to close in the fourth quarter of 2021. Ellwood will represent the 51st firm to join CAPTRUST since 2006. Consistent with other firms that have joined CAPTRUST, Ellwood will transition to the CAPTRUST name and brand after the close.
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).
RALEIGH, N.C. – August 13, 2021 – 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 $510,000 to 56 charities around the country as the firm celebrates its second annual Giving Day.
This summer, each CAPTRUST office was given the opportunity to allocate $10,000 to charities in its local community. Each organization must benefit children, to align with the CCF’s mission. The event was a follow-up to last year’s Giving Thanks campaign, where the firm gave $450,000 to 45 nonprofits.
“We are thrilled to be able to deploy the CAPTRUST Community Foundation’s resources directly into the communities where we have offices around the country,” said Philip D’Unger, president of the CCF and senior team leader at CAPTRUST. “As our firm grows, so does our ability to make a real impact in our communities. We look forward to continuing this annual effort for years to come, thanks to the generosity of our CAPTRUST colleagues.”
The charities that received donations are:
Founded in 2007, the CCF has awarded more than $3.7 million in grants to charitable organizations across the country that help children in need. 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.
The CAPTRUST Community Foundation was organized in 2007 to provide CAPTRUST employees with opportunities to participate as a group in community outreach efforts. The foundation is a registered 501(c)(3) charity and is eligible to receive tax-deductible contributions. If you would like to donate or learn more about the CAPTRUST Community Foundation, please call 855.649.0943.
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).
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).
Raleigh, N.C. – July 8, 2021 – CAPTRUST Financial Advisors (CAPTRUST) today announced the addition of Nachman Norwood & Parrott Wealth Management (NNP). The Greenville, SC-based team adds to CAPTRUST more than $2.1 billion in assets under management.
NNP provides financial planning and consulting services for high-net-worth individuals, qualified plans, and endowments and foundations. The firm is one of the largest registered investment advisors in South Carolina. NNP is led by Partners Bob Nachman, Ben Norwood, Wes Boyce, Al Cannon, Maura Copsey, Gary Davis, and Russ Miller. They bring with them to CAPTRUST an additional ten team members. Consistent with previous firms that have joined CAPTRUST, NNP will transition to the CAPTRUST name and brand.
“In order to compete in the future, wealth management companies will need to deliver the highest level of service and advice. Even as one of the largest firms in South Carolina, we knew we would need access to even greater tools and resources to continue to provide an outstanding client experience,” said Bob Nachman. “Joining CAPTRUST will allow our team to relinquish operational duties and focus our time and energy on our core competency of taking care of clients and delivering sound financial advice.”
“NNP has built a notable practice in South Carolina, a state where we have long had clients, and are excited to now have a physical presence,” said Rush Benton, CAPTRUST senior director, strategic growth. “NNP’s three business lines, along with their dedication to the fiduciary model, made them a great fit for CAPTRUST.”
NNP represents the 50th group that has joined CAPTRUST since 2006. In the past two years alone, CAPTRUST has added 12 firms, including five that have joined so far in 2021.
“Over the last 15 years, we have sought out firms that not only added great talent to our firm, including dozens of former CEOs, but also new services like tax consulting and estate planning, to round out our offering,” said J. Fielding Miller, CAPTRUST co-founder and CEO. “Our model of fully integrating firms, rather than just investing in them, means that we need to be that much more selective in ensuring a strong cultural fit and desire to emulate our mission of serving our clients, colleagues, and communities.”
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).
Raleigh, N.C. – June 16, 2021 – The CAPTRUST Community Foundation (CCF), an employee-run 501(c)(3), today announced the organization’s 2021 Charity of Choice: Note in the Pocket. Note in the Pocket will receive a $100,000 grant to support its mission of providing clothing to school-aged children in need in Wake County, North Carolina. Additionally, the CCF named five national grant recipients who will each receive a $25,000 grant.
Founded in 2007, the CCF’s mission is to enrich the lives of children in our communities. The CCF has awarded over $2.8 million in grants to charitable organizations across the country that help children in need. The CCF is a volunteer organization run by CAPTRUST employees and sources fundraising primarily through employee payroll deductions that are matched by CAPTRUST. Every year the CCF names a single organization its Charity of Choice. As this year’s Charity of Choice, Note in the Pocket, will receive a $100,000 grant as well as support from CCF volunteers throughout the year to assist in the charity’s mission and expand its capabilities.
Note in the Pocket provides clothing to students in need who have been identified by schools or social service agencies in Wake County, North Carolina. Note in the Pocket’s clothing distribution model strives to remove the stigma that goes along with needing or asking for help. The organization’s goal is to empower children to succeed in their academic environment by providing stylish, good quality clothing that they are proud to wear. Since 2013, Note in the Pocket has impacted more than 30,000 individuals, with the goal to clothe 50,000 by 2025.
“We are thrilled to have been selected as the CAPTRUST Community Foundation’s 2021 Charity of Choice,” says Dallas Bonavita, executive director at Note in the Pocket. “The COVID-19 pandemic has been especially difficult on our school-aged children. This grant and the support from CAPTRUST employees will have a tremendous impact on our ability to serve those children in need.”
In addition to its work with Note in the Pocket, the CCF has identified five charities that will receive national grants of $25,000 in 2021. They are:
“The pandemic created difficult challenges for many nonprofit organizations when their communities needed them most,” says Philip D’Unger, president of the CCF and senior team leader at CAPTRUST. “We understand the need is great and we are incredibly excited and fortunate to work with this year’s Charity of Choice, Note in the Pocket, as well as the national grant recipients.”
To learn more, visit www.captrustcommunityfoundation.org.
The CAPTRUST Community Foundation was organized in 2007 to provide CAPTRUST employees with opportunities to participate as a group in community outreach efforts. The foundation is a registered 501(c)(3) charity and is eligible to receive tax-deductible contributions. If you would like to donate or learn more about the CAPTRUST Community Foundation, please call 855.649.0943.
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).
Raleigh, N.C. – June 9, 2021 – CAPTRUST Financial Advisors (CAPTRUST) today announced that Stewardship Financial Advisors (Stewardship) has joined the firm. The Atlanta-based firm adds $873 million in assets under management and nearly 1,000 clients.
Stewardship specializes in holistic planning encompassing five key areas: estate planning, asset and risk management, tax planning, retirement income planning, and investment services. The firm is led by Charles B. Pyke Jr., who founded the firm in 1997. The entire Stewardship team, including ten advisors and support staff, are joining CAPTRUST.
“I founded Stewardship with the mission of helping people to be good stewards of all that has been entrusted to them. We fulfill this mission by offering comprehensive financial planning,” said Pyke, now principal, financial advisor at CAPTRUST. “As we grew to meet the needs of our growing client base, we felt it was time to partner with a firm committed to this mission and with the depth of scale to fully meet the responsibilities to our clients. CAPTRUST’s culture, mission, and core values match ours, and their deep resources enhance our holistic planning offerings for our clients. Aligning our team and our clients with CAPTRUST is what we needed to move to the next phase of our growth.”
In addition, CAPTRUST will also now have access to Stewardship’s sister estate planning law firm, Pyke & Associates, which will remain a separate entity.
“One of the things that attracted us to Stewardship is its deep expertise in estate planning,” said Rush Benton, CAPTRUST senior director, strategic growth. “As we continue to build out our holistic wealth management offering, this is an important piece of the puzzle.”
Stewardship has two offices in Georgia—in Peachtree City and Stockbridge—in addition to CAPTRUST’s existing locations in Atlanta and Alpharetta. Stewardship is the 49th organization to join the firm since 2006 and will transition to the CAPTRUST name and brand. Stewardship was advised by Park Sutton Advisors, LLC and had legal representation from Riezman Berger.
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).
Raleigh, N.C. – April 1, 2021 – CAPTRUST Financial Advisors (CAPTRUST) today announced that Pacific Investment Consultants (PIC) has joined the growing firm. PIC brings more than $700 million in assets under management (AUM) to CAPTRUST and comes on the heels of the firm adding another Northern California-based team, Genovese Burford & Brothers Wealth & Retirement Plan Management, LLC (GBB).
Based in Folsom, California, PIC provides wealth management and retirement planning to roughly 600 clients. The firm is led by financial advisors Christeen Reeg, Scott Gordon, Bill Altavilla, Debbie Hightower, and Ryan Jantzen, who will join CAPTRUST as principals. The entire PIC team, including four additional team members, will join CAPTRUST.
“At Pacific Investment Consultants, we have worked hard to provide the opportunities for our clients through detailed research and innovative planning,” said Reeg. “Joining CAPTRUST will allow us to leverage their vast resources to strengthen our client outcomes and grow our team.”
“We look for firms who prioritize serving their clients as a fiduciary and PIC was no exception,” said Rush Benton, CAPTRUST senior director, strategic growth. “We are excited for PIC to join our team and believe they will fit flawlessly into our business, with the new team members adding great value to the CAPTRUST organization.”
With the addition of PIC, CAPTRUST continues to expand its foothold in California. Since 2006, a total of 48 firms have joined CAPTRUST. As with all firms that join CAPTRUST, Pacific Investment Consultants will transition to the CAPTRUST name and brand.
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 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).