RALEIGH, NC – June 2, 2020 – CAPTRUST Financial Advisors (CAPTRUST) today announced that GTCR, a leading private equity firm, has made a 25 percent minority growth investment in CAPTRUST. This investment reflects a $1.25 billion valuation of CAPTRUST, a substantial appreciation in value of the business, as CAPTRUST continues to grow and add services and capabilities. CAPTRUST’s Co-Founder, Chairman, and CEO Fielding Miller, will continue to lead the firm and remain as the largest shareholder.
CAPTRUST began the process of identifying a capital partner in mid-2019. After completing 40 transactions since 2006, the firm was anticipating the opportunity to deploy additional capital to support its strategic plans to further expand the business nationally. After an extensive process, CAPTRUST selected GTCR as the ideal partner.
“We see tremendous opportunities ahead, and to execute them successfully, we needed a strong capital partner,” said Miller. “It was important to find a partner that not only understands our CAPTRUST mission, our people, and our strategy, but also respects our passionate commitment to independence and focus on the long term. GTCR has a notable track record of partnering with companies considered to be best-in-class in their respective industries and helping them accelerate success.”
Chicago-based GTCR, founded in 1980, has a specialized focus on investing in growth companies in the financial services sector. The firm is investing in CAPTRUST with a minority interest and a minimum 7-year investment horizon, and it will hold two of the nine seats on the Board of Directors. The leadership and employees of CAPTRUST will continue to hold the majority interest in the firm following the transaction. A portion of the proceeds from the investment will provide partial liquidity to shareholders and a portion will be held as primary capital to fund acquisitions.
“We see great potential in the independent RIA space and believe that CAPTRUST is uniquely positioned to continue its extraordinary growth trajectory through the current market conditions and beyond,” said Collin Roche, Managing Director of GTCR. “They have a history of being aggressive when markets are uncertain, so this is an ideal time to partner with Fielding and his deep bench of talented professionals.”
“CAPTRUST has demonstrated itself to be a leader in wealth management for the high-net-worth, endowments, foundations, and institutional retirement markets. We look forward to supporting its organic and acquisition-driven growth,” added Mike Hollander, Managing Director of GTCR.
CAPTRUST has more than 700 employees and 43 offices in 21 states. The firm has more than $390 billion in assets under advisement (AUA), including more than $45 billion in managed assets for private clients and institutional investors. CAPTRUST has a philosophy of creating a path to equity ownership for every employee and currently has over 380 shareholders.
Ardea Partners LP served as exclusive financial advisor to CAPTRUST.
“We have known the team at Ardea for several years and regard them as the RIA industry’s leading investment banking and advisory firm. They helped us achieve a superior outcome for all CAPTRUST constituents that reflected our unique position in the market and have been our trusted, strategic advisor throughout this very complex process. We are thrilled with the result,” continued Miller.
GTCR was represented by SunTrust Robinson Humphrey, Inc. Additionally, Alston & Bird LLP served as CAPTRUST’s counsel and Kirkland & Ellis LLP served as GTCR’s counsel in this transaction. Additional terms of the deal were not disclosed.
Founded in 1997 in Raleigh, North Carolina, CAPTRUST is an independent registered investment advisor with more than 700 employees nationwide and $390 billion in client assets under advisement (as of March 31, 2020). CAPTRUST has clients in all 50 states and provides investment advisory, asset management, and planning services to thousands of affluent private clients and institutional investors such as retirement plan fiduciaries, endowments, foundations, and religious entities.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Growth Business Services, Technology, Media & Telecommunications, and Healthcare industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $15 billion in over 200 companies. For more information, please visit www.gtcr.com.
RALEIGH, NC – May 27, 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 the organization’s 2020 Charity of Choice: TeamSmile. TeamSmile will receive a $100,000 grant at the end of 2020 to support its initiatives promoting children’s oral health. Additionally, the CCF named the three recipients of its $25,000 national grants.
Founded in 2007, the CCF has awarded over $1.825 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 CAPTURST. Every year the CCF names a single organization its Charity of Choice. As this year’s Charity of Choice, TeamSmile 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.
TeamSmile partners with oral health professionals and athletic organizations to provide dental care to children in need across the country. Through the organization’s partnerships with professional and collegiate sports teams, TeamSmile offers children the allure of high-profile sports to foster strong bonds between these children and their communities, while also solidifying the message that oral care is integral to long-term health. Of note, TeamSmile of Atlanta received a CCF national grant in 2019. CAPTRUST recognizes the long-term impact TeamSmile has made on underserved children and, through this grant, will assist the charity in reaching more children nationwide.
“TeamSmile is thrilled to be the Charity of Choice for the CAPTRUST Community Foundation in 2020! We are humbled and grateful for the organization’s support in fulfilling our mission to provide children in need with a life-changing dental experience through the power of sports,” said John McCarthy, executive director of TeamSmile. “In 2019, we conducted 33 programs, served 7,123 children nationwide, and provided over $2.8 million in free dental care and oral health education. We look forward to tremendous engagement from CAPTRUST employees and we are truly grateful for their support,”
In addition to its work with TeamSmile, the CCF has identified three charities that will receive national grants of $25,000 in 2020. They are:
“We at the CAPTRUST Community Foundation are incredibly excited and fortunate to work with this year’s Charity of Choice, TeamSmile, as well as the national grant recipients, Parkland C.A.R.E.S., Note in the Pocket, and Respite Care of San Antonio,” said Tiffany Larew, president of the CCF and manager of employee relations at CAPTRUST. “All of these organizations provide unique and highly valued care to children in their communities. Through our work with these groups we hope to expand the services they can provide, assisting even more underserved children nationwide.”
In addition to these grants, the CCF has been working on a number of initiatives to benefit those impacted by the global pandemic. In mid-April, CAPTRUST Co-Founder and CEO Fielding Miller challenged the firm to raise at least $100,000 to bolster the CCF’s ability to provide emergency Crisis Grants to nonprofits on the front lines of the COVID-19 fight. To date, the CCF has exceeded this goal, raising nearly $145,000, which has funded more than 69 grants across the country.
To learn more, visit 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 with more than 700 employees nationwide and $390 billion in client assets under advisement (as of March 31, 2020). An employee-owned firm, CAPTRUST provides investment advisory services to retirement plan fiduciaries, endowments, and foundations, and comprehensive wealth planning services to executives and high-net-worth individuals. CAPTRUST’s mission is to enrich the lives of its clients, colleagues, and communities through sound financial advice, integrity, and a commitment to service beyond expectation.
On April 14, CAPTRUST CEO Fielding Miller challenged the firm to come together to raise $100,000 to fuel the CAPTRUST Community Foundation’s (CCF’s) ability to provide emergency funding to nonprofits that are on the front lines of the COVID-19 fight.
One hundred seventy-five of the firm’s employees have answered the call, raising more than $137,000 in just a few short weeks.
To date, more than $95,000 of the money raised has been distributed to 50 nonprofits in the form of emergency crisis grants and other small grants, all ranging in size from $1,000 to $5,000. The grants benefit organizations with a range of goals, from programs feeding students who are no longer receiving meals at school to groups distributing personal protective equipment (PPE) and teams providing childcare to the families of first responders.
A few examples of organizations that have received grants in recent weeks include:
In addition to monetary donations, CAPTRUST employees have volunteered for hundreds of hours within their local communities. Their efforts include hosting food drives for local food pantries, providing meals to doctors and nurses, and buying gift cards for grocery store workers who continue to make food shopping possible. While the initial challenge goal has been exceeded, the CCF will continue to raise funds throughout this crisis and encourage employees to give back however possible.
Founded in 1997 in Raleigh, North Carolina, CAPTRUST is an independent registered investment advisor with more than 650 employees nationwide and $390 billion in client assets. An employee-owned firm, CAPTRUST provides investment advisory services to retirement plan fiduciaries, endowments, and foundations, and comprehensive wealth planning services to executives and high-net-worth individuals. CAPTRUST’s mission is to enrich the lives of its clients, colleagues, and communities through sound financial advice, integrity, and a commitment to service beyond expectation. The firm also operates the CAPTRUST Community Foundation, a charity focused on meeting the needs of underserved children.
RALEIGH, NC – March 12, 2020 – CAPTRUST Financial Advisors (CAPTRUST) today announced the addition of Montgomery, AL-based Welch Hornsby, Inc. Founded in 1988, Welch Hornsby offers investment advisory services focused on the needs of high-net-worth individuals and families, endowments, foundations, corporate and municipal retirement plans, and other institutional clients. The firm has clients in more than 15 states.
Welch Hornsby was founded more than 30 years ago and today is led by Co-Founder, Chairman, and CEO Edward V. Welch, Jr. Welch will be joining CAPTRUST, along with 14 financial advisors and research professionals as well as 12 operational staff. With offices in Montgomery and Birmingham, AL, along with Charlotte, NC, the addition strengthens CAPTRUST’s position in the state of Alabama, where it already has an office serving 34 retirement plan sponsors representing $4.3 billion of client assets, as of yearend 2019.
“The Welch Hornsby team has built a remarkable firm that has prioritized doing what’s right for their clients above all else. This made them an ideal fit to join CAPTRUST,” said CAPTRUST Senior Director, Strategic Growth, Rush Benton.
“At Welch Hornsby, our commitment to serving our clients and communities has fueled our growth for the last 30 years,” said Welch Hornsby Co-Founder, Chairman, and CEO, Edward V. Welch, Jr. “We believe that CAPTRUST is the ideal partner for us. Our cultural alignment, mutual dedication to our clients, and respective local communities—along with our ability to tap into a network of robust resources at CAPTRUST—lays a foundation for the firm’s growth for the next generation of clients and employees.”
Of Welch Hornsby’s $5.5 billion in assets under advisement (AUA), $1.75 billion are discretionary assets under management (AUM). Consistent with previous firms, Welch Hornsby will take on the CAPTRUST name and branding moving forward.
Since 2006, CAPTRUST has added 40 firms across the country to build out the RIA’s wealth management and institutional practices. With the addition of Welch Hornsby, CAPTRUST now oversees an estimated $370 billion in assets with its more than 675 employees.
“The combination of organic growth and the 40 notable teams who have joined our CAPTRUST family over the past 14 years has helped us to achieve remarkable business growth, increasing revenue 22% per year for the last 22 years,” continued Benton.
Raymond James & Associates acted as exclusive financial advisor to Welch Hornsby, Inc. on the transaction.
Founded in 1997 in Raleigh, North Carolina, CAPTRUST is an independent registered investment advisor with more than 650 employees nationwide and $368 billion in client assets under advisement (as of December 31, 2019). An employee-owned firm, CAPTRUST provides investment advisory services to retirement plan fiduciaries, endowments, and foundations, and comprehensive wealth planning services to executives and high-net-worth individuals. CAPTRUST’s mission is to enrich the lives of its clients, colleagues, and communities through sound financial advice, integrity, and a commitment to service beyond expectation.
RALEIGH, NC – March 5, 2020 – CAPTRUST Financial Advisors (CAPTRUST) today announced key promotions designed to support the firm’s rapid growth and long-term business goals. Following a successful 10 years with CAPTRUST, Ben Goldstein has been promoted to president. Additionally, the firm announced new roles and responsibilities for Michael Vogelzang, John Leissner, and Jennifer Doss.
Goldstein joined the firm in 2010 and has been serving as CAPTRUST’s chief operating officer and head of business operations. In those roles, Goldstein oversaw client services, mergers and acquisitions, compliance, performance reporting, finance, human resources, administration, application development, IT, and integrations. He has played a major part in CAPTRUST’s growth and will continue this work, contributing to the overall success of the firm in his new role as president. Goldstein will continue to report to CAPTRUST Co-Founder and CEO, J. Fielding Miller.
“When Ben joined CAPTRUST in 2010, we were a firm with just 140 employees and $44 billion in assets under advisement. Ben has been an integral part of our growth in the last decade to become a national firm with more than 650 employees and $368 billion in AUA,” said Miller. “At this important time in our expansion, it is critical that we continue to build out and empower leaders like Ben to meet the increasing complexity of our organization.”
“Over the past 10 years, I have been incredibly fortunate to work and grow with CAPTRUST. I have seen the work my colleagues have been able to accomplish for their clients and communities, and I look forward to helping to continue our success in my new role as president,” said Goldstein. “As CAPTRUST continues to mature as a firm, I am confident that our team of all-stars will maintain our strong growth trajectory for years to come.”
In addition to Goldstein’s appointment to president, CAPTRUST announced new titles and responsibilities for three other team members:
“As we look toward the future of CAPTRUST, individuals like Ben, Mike, John, and Jennifer define what we want our organization to be. Their strong results-driven focus on serving our clients has been a big contributor to our success,” continued Miller.
Founded in 1997 in Raleigh, North Carolina, CAPTRUST is an independent registered investment advisor with more than 650 employees nationwide and $368 billion in client assets. An employee-owned firm, CAPTRUST provides investment advisory services to retirement plan fiduciaries, endowments, and foundations, and comprehensive wealth planning services to executives and high-net-worth individuals. CAPTRUST’s mission is to enrich the lives of its clients, colleagues, and communities through sound financial advice, integrity, and a commitment to service beyond expectation.
RALEIGH, NC – February 11, 2020 – CAPTRUST Financial Advisors (CAPTRUST) today announced the addition of Wilmington, NC-based Fountain Financial Associates. The team of 10 employees, including five advisors, joins CAPTRUST’s wealth management practice, adding $654 million in assets under management (AUM). This is the fourth location for CAPTRUST in North Carolina, including the firm’s headquarters in Raleigh, as well as offices in Greensboro and Charlotte.
Founded in 1998, Fountain Financial Associates is one of Wilmington’s oldest and largest independent financial planning and investment management firms. The firm was established by Vinton Fountain to provide successful individuals with a personally tailored option for the management of their financial lives. Vinton Fountain will be joining CAPTRUST along with advisors Buck Beam, Brice Gibson, Chris Riley, and Bob Warwick.
“The CAPTRUST brand is one that not only has a strong bedrock in our home state of North Carolina, but throughout the entire country. When we evaluated options for our clients, employees and the Wilmington office, we were pleased to see the answer was right in our own backyard,” said Vinton E. Fountain III, president and founder of Fountain Financial Associates. “With more than 20 years of experience serving our clients and providing loyal, objective and experienced counsel, we could not be more excited for this next phase. We believe the best just got better.”
“There are many important characteristics that we at CAPTRUST look for when considering having a new firm join our team. Among them is having the strong conviction to act as a fiduciary and put the needs of their clients and the community first. These two traits have been a core part of Fountain Financial Associates since the very beginning,” said CAPTRUST President Ben Goldstein. “We are pleased to be able to expand our presence within North Carolina to even more communities and look forward to the great work we will be able to achieve together.”
CAPTRUST is an independent, employee-owned firm that provides investment advisory services to high-net-worth individuals, executives, retirement plan fiduciaries, endowments, and foundations. With the addition of Fountain Financial Associates, CAPTRUST now has more than 330 employees in the state of North Carolina, including over 50 advisors. CAPTRUST represents more than $18 billion of wealth management assets and a significant business providing investment consulting services to institutional clients from its offices located across the U.S.
About CAPTRUST
Founded in 1997 in Raleigh, North Carolina, CAPTRUST is an independent registered investment advisor with more than 650 employees nationwide and $368 billion in client assets under advisement. An employee-owned firm, CAPTRUST provides investment advisory services to retirement plan fiduciaries, endowments, and foundations, and comprehensive wealth planning services to executives and high-net-worth individuals. CAPTRUST’s mission is to enrich the lives of its clients, colleagues, and communities through sound financial advice, integrity, and a commitment to service beyond expectation.
The Nonprofit Foundation Also Shares Metrics on Nationwide Outreach, Granting a Total of $350,000 in 2019
RALEIGH, NC – December 19, 2019 – 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 presented its donation to the Charity of Choice for 2019, the CORRAL Riding Academy. This donation amounted to $100,000 and was given to the organization this morning at CAPTRUST Community Foundation Annual Luncheon. Today, the CCF also announced the appointment of the leadership team and board for 2020, taking the reins from current Co-Presidents Devyn Duex and Trae Cole.
Founded in 2007, the CCF has awarded over $1.825 million to charitable organizations across the country that serve the mission of children in need. The foundation is wholly run by CAPTRUST employees, with fundraising primarily sourced from employee payroll deductions. CAPTRUST matches each dollar donated to the organization via payroll deduction.
Each year, the CCF awards a single organization the honor of being the Charity of Choice. As this year’s Charity of Choice, the CORRAL Riding Academy received the grant of $100,000 and support throughout the year to positively impact and expand the charity’s reach and scale as it seeks to provide opportunities for at-risk girls to learn to ride horses in North Carolina’s Triangle region. Perhaps most notably, the donation led to the development of a new facility to increase the organization’s capacity for years to come. To date, the organization has helped more than 250 girls through horse therapy, tutoring, and mentorship services.
In addition to the CCF’s work in Raleigh, the organization conducts charitable activities throughout the country. This year alone, the CCF donated to 85 charities in 51 communities across the country amounting to $350,000 in total donations. Among these donations were the CCF national grants, donations of $25,000 given to the below three charities:
Devyn Duex, vice president and financial advisor in CAPTRUST’s Santa Barbara, CA office, and Trae Cole, financial advisor in CAPTRUST’s Raleigh headquarters, served as co-presidents of the CCF in 2019. In this capacity, they worked with the rest of the leadership team and the CCF board to identify charities with which to work and coordinate CAPTRUST employee volunteer efforts across the country.
“We are so pleased with what we have been able to accomplish at the CAPTRUST Community Foundation over the past year, and we are excited about what the new CCF team will continue to provide to underprivileged children across the country in the coming year,” said Duex. “Getting to work with incredible organizations like the CORRAL Riding Academy, which has already had a dramatic effect on the lives of so many young girls, is a true honor and we are humbled that our contribution will be able to aid their efforts.”
Today, the CCF announced that Tiffany Larew will serve as the organization’s president in 2020 and will be supported by the below new board members:
Returning Board Members:
New Oversight Board Members:
“Devyn, Trae, and the team at the CCF have done a phenomenal job in 2019 expanding the reach of the CCF and providing meaningful help to worthy charitable causes,” said John Curry, CAPTRUST’s chief marketing officer. “In 2020, we plan to continue this work and strive to improve the lives of underserved children across the country.”
On June 5, CAPTRUST was also recognized as one of the 20 winners for the Triangle Business Journal’s 2019 Corporate Philanthropy Award. This year’s winners were chosen from a pool of more than 70 impressive nominees. The winners comprise various nonprofit entities, corporations both large and small, and individuals who have gone above and beyond to make a difference in the local community.
For media inquiries regarding this press announcement, or to speak to a CAPTRUST spokesperson, please contact: CAPTRUST@ficommpartners.com. To learn more, visit 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 with more than 650 employees nationwide and $362 billion in client assets. An employee-owned firm, CAPTRUST provides investment advisory services to retirement plan fiduciaries, endowments, and foundations, and comprehensive wealth planning services to executives and high-net-worth individuals. CAPTRUST’S mission is to enrich the lives of its clients, colleagues, and communities through sound financial advice, integrity, and a commitment to service beyond expectation.
BOSTON, MA – October 9, 2019 – Boston Advisors, a boutique investment management firm with more than 35 years of experience managing assets for institutions and affluent individuals and families today announced that it has sold its Private Advisory Group to CAPTRUST Financial Advisors (CAPTRUST). This transaction adds 15 people and more than $1.5 billion of wealth management client assets under management to CAPTRUST’s growing wealth management business. The Boston Advisors’ Private Advisory Group team, led by President and Chief Investment Officer Michael J. Vogelzang, became CAPTRUST employees as of October 1, 2019, the effective date of the transaction. The group will assume CAPTRUST’s brand as part of this transaction.
CAPTRUST is an independent, employee-owned registered investment advisor that provides investment advisory services to high-net-worth individuals, executives, retirement plan fiduciaries, endowments, and foundations. Headquartered in Raleigh, North Carolina, the firm oversees more than $340 billion of assets, including nearly $17 billion of wealth management assets, from its offices located across the U.S.
“We are excited to be part of CAPTRUST and to get to know our new colleagues better,” said Vogelzang, who has managed Boston Advisors since 1997 and led the firm’s management buyout in 2006. “We searched for the right strategic partner with three objectives: 1) find the right cultural fit for our clients; 2) provide a wider platform for our employees to grow professionally, and 3) enhance our ability to grow in Boston and the New England region. CAPTRUST hit all three perfectly. We are truly excited to see our clients respond to our new capabilities, from deeper financial planning expertise to world class technology and infrastructure.” Vogelzang will be assuming a senior leadership position in CAPTRUST’s Consulting Research Group after the transition.
“We are constantly on the lookout for like-minded individuals who share our firm’s values and goals for growth,” said CAPTRUST CEO J. Fielding Miller. “Mike and the rest of the Boston Advisors’ Private Advisory Group are top-notch talent who will fit right in and contribute immediately. It’s always rewarding to see how energized new team members get when they realize the benefits of plugging into headquarters here in Raleigh. I am looking forward to seeing what they will accomplish in the coming years.”
With the addition of the Boston Advisors team, CAPTRUST now has 234 advisors across 48 locations.
About Boston Advisors
Boston Advisors is an equity investment advisory firm established in 1982. The firm was originally founded as Boston Security Counselors and became known as Boston Advisors, Inc. in 1997, a subsidiary of The Advest Financial Group. In 2004, AXA Financial purchased The MONY Group, parent of The Advest Group and soon thereafter, sold The Advest Group and Boston Advisors, Inc. to Merrill Lynch (now Bank of America). As a result of these transitions, the team initiated a management led buyout and Boston Advisors, Inc. was reorganized as Boston Advisors, LLC. On October 1, 2019, Boston Advisors became a division of Knights of Columbus Asset Advisors (KoCAA). Boston Advisors will continue to operate as an independent entity. Under the new ownership employees will participate in an equity/profit share program to perpetuate the employee-owned culture for which the firm is known.
About CAPTRUST Financial Advisors
CAPTRUST was founded in 1997 and has grown from a single office in Raleigh, North Carolina, to a national registered investment advisor with more than 600 employees under the leadership of Chief Executive Officer J. Fielding Miller. Today, CAPTRUST’s more than 300 employee shareholders operate the growing firm whose mission is to “enrich the lives of our clients, colleagues, and communities through sound financial advice, integrity, and a commitment to service beyond expectation.”
SAN ANTONIO, TX – August 22, 2019 – South Texas Money Management, Ltd. (STMM), one of Texas’ leading wealth management firms, announced today that it has entered into an agreement to join CAPTRUST Financial Advisors (CAPTRUST). CAPTRUST is a leading independent wealth management and institutional investment advisory firm with existing practices in Austin, Houston, and Dallas. STMM is headquartered in San Antonio with six wealth management offices across Texas and manages $3.7 billion in client assets.
CAPTRUST is an independent, employee-owned firm that provides investment advisory services to high-net-worth individuals, executives, retirement plan fiduciaries, endowments, and foundations. Headquartered in Raleigh, North Carolina, the firm represents more than $9.6 billion of wealth management assets and a significant business providing investment consulting services to institutional clients from its offices located across the U.S.
Jeanie Wyatt served as Chairman of STMM until her passing in April 2019, prior to which she and the STMM Management team, along with her family, chose CAPTRUST to fulfill her succession plan and continue her legacy.
Speaking on behalf of Wyatt’s family and STMM, Jeanie’s stepson Richey Wyatt stated, “When Jeanie, her son Trey, and I, along with the STMM management team mapped out the succession plan that eventually led us to CAPTRUST, we explicitly did so based on two guiding principles: What is best for our clients, and what is best for our employees. Under Jeanie’s leadership, we unanimously agreed in a thorough process that CAPTRUST was our ideal strategic partner.”
“As an employee-owned and community focused firm with a sizeable wealth management practice and the highest ethical standards, CAPTRUST’s culture matches ours,” said Lance Lahourcade, managing director and STMM partner. “Partnering with CAPTRUST allows the STMM investment strategy to carry forward under our local leadership with no disruption to the services our clients are accustomed to, and we are confident that this partnership is a wonderful opportunity for STMM clients, employees, and the communities we serve.”
In joining forces, STMM’s clients will have access to CAPTRUST’s deep bench of resources, services, and technology that will enhance the client experience. The transaction is expected to close in early September.
“From our first meeting with the team at South Texas Money Management, it was clear that they approach working with their clients with the same level of enthusiasm and care that has become a hallmark of CAPTRUST’s services,” said CAPTRUST founder and CEO J. Fielding Miller. “The team from South Texas Money Management perfectly embodies the spirit and ambition that we envision for the future of CAPTRUST and we look forward to building on this firm’s impressive legacy in Texas for years to come.”
STMM was advised by Park Sutton Advisors, LLC and had legal representation from Dykema.
About South Texas Money Management, Ltd.
STMM was founded by Jeanie Wyatt in 2000 and provides financial advisory services across a variety of asset classes including equity, fixed income, balanced asset classes for individuals, trusts, retirement plans, charitable foundations and endowments, bank trust departments and other institutions. The firm has more than 60 employees their offices across Texas which are in San Antonio, Austin, Corpus Christi, Dallas, Houston and Brenham/College Station.
About CAPTRUST
CAPTRUST Financial Advisors is an independent, employee-owned firm that provides investment advisory services to retirement plan fiduciaries, endowments, and foundations, and comprehensive wealth planning services to executives and high-net-worth individuals. Headquartered in Raleigh, North Carolina, the firm represents more than $340 billion in client assets from its offices located across the U.S.
RALEIGH, N.C. – August 20, 2019 – CAPTRUST Financial Advisors (CAPTRUST), one of the nation’s leading independent wealth management and institutional investment advisory firms, today announced that Frank Bub has joined the firm as a senior director in the firm’s Advisor Group.
As CAPTRUST continues to develop its wealth management business, Bub will be integral in strengthening the organization’s structure and leading wealth management sales and growth initiatives nationwide. Bub will be based in the firm’s headquarters in Raleigh, North Carolina and will report directly to Advisor Group Head and Managing Director Wilson Hoyle.
Bub has over 25 years of experience in the wealth management and independent investment advisory industries. Prior to joining CAPTRUST, Bub was a director and the eastern head of relationship management and consulting at BNY Mellon. Before BNY Mellon, Bub served as managing director of Schwab Executive Services in the private wealth management division of Charles Schwab.
“The moment you walk into the building, you can sense that the culture Fielding and his team have created at CAPTRUST is truly unique,” said Bub. “It’s intentional, authentic, and it’s the driving force behind the firm’s tremendous growth, and the foundation for how we serve our clients. I couldn’t be more excited to be part of this community, and I look forward to supporting the continued growth of our advisors as they work to enrich the lives of our clients through best-in-class financial advice.”
“CAPTRUST consistently strives to grow and appoint leaders that support our mission of enriching the lives of our clients, colleagues, and communities,” said CAPTRUST CEO, Fielding Miller. “We are thrilled to welcome Frank Bub to the CAPTRUST team. He brings exceptional leadership capabilities and an impressive background that will serve to further our mission and ensure our advisors receive the support they need to succeed and thrive.”
For media inquiries regarding this press announcement, or to speak to a CAPTRUST spokesperson, please contact CAPTRUST@ficommpartners.com.
About CAPTRUST
CAPTRUST Financial Advisors is an independent, employee-owned firm that provides investment advisory services to retirement plan fiduciaries, endowments, and foundations, and comprehensive wealth planning services to executives and high-net-worth individuals. Headquartered in Raleigh, North Carolina, the firm represents more than $340 billion in client assets from its offices located across the U.S.