Captrust Financial Advisors has acquired two registered investment advisor (RIAs)– Campbell Wealth Management in Alexandria, Virginia, and TruNorth Wealth Partners in St. Paul, Minnesota.
These RIAs have a combined $1.97bn in assets.
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This move not only broadens Captrust’s geographical presence but also enhances its wealth management and retirement planning services.
Campbell Wealth Management, established in 2003 and led by CEO Kelly Campbell, is now Captrust’s first location in Alexandria, bringing 33 employees and $1.4bn in client assets.
“We believe that a financial plan is at the core of every client relationship. Joining Captrust was a natural next step for our firm because it also believes in the importance of financial planning and is helping us to bring deeper resources to clients, including estate planning, more extensive tax planning, and family office services,” said Kelly Campbell.
Captrust’s managing director, Rick Shoff, expressed enthusiasm for the growth potential in northern Virginia, a region where the firm already has a substantial client base.
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By GlobalData“Campbell is unapologetically a growth-minded organization, just like Captrust. We are excited to see what the future has in store for it in a market like northern Virginia, where we already have a substantial number of clients,” Shoff said.
TruNorth Wealth Partners, founded in 2005 by CEO Peter Rekstad and Travis Gleason, has experience in estate planning, multigenerational wealth planning, and retirement planning for executives and professionals.
The addition of TruNorth introduces ten new employees and over $570m in assets to Captrust.
“With Captrust, we can provide family office services, access to tax planning and compliance, and more, all from trusted Captrust colleagues who uphold our standards of service beyond expectation,” stated Peter Rekstad.
Shoff also highlighted the synergy between TruNorth’s client approach and Captrust’s existing services.
“TruNorth’s philosophy is ‘the more complex the client, the better,’ which complements the approach of our existing teams in the Minneapolis region. From serving our niche of Big Four executives to building relationships with institutional clients, we expect big things from our newest employees,” he continued.
In the transactions, Campbell Wealth Management was advised by Houlihan Lokey, while TruNorth Wealth Partners received guidance from Advisor Growth Strategies.
Captrust, founded in 1997, is an independent registered investment advisor that offers a range of services including investment management, financial planning, estate planning, and tax advisory and compliance for individuals and families.
The firm also caters to ultra-high-net-worth individuals, retirement plan sponsors, endowments, foundations, and religious entities with a suite of services designed to simplify financial lives and perpetuate legacies.
The acquisition of Campbell and TruNorth follows Captrust’s recent acquisition of Boston Financial Management in New England last month.
