CAPTRUST Financial Advisors, a Raleigh, North Carolina based wealth management firm, has agreed to acquire Salt Lake City, Utah based Knox Capital Group, which has about $300m in client assets under management.
The deal, which is CAPTRUST’s 28th deal since 2006, gives the firm entry into Utah market.
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Knox Capital, founded in 2003, is led by partners Brodie Barnes and Stanley Kimball. It offers wealth management services for high net worth individuals, business owners, companies, and families.
Knox Capital also offers planning and insurance funding for high-net-worth families and business owners.
It employs 12 people, all of whom will be retained by CAPTRUST.
Barnes said: “Knox Capital Group was founded on the principals of strength, security, innovation, courage, hard work and integrity. CAPTRUST shares these same values and will provide a great home for us. And our team of experienced advisors, including five CPAs, focused on ultra-affluent clients and exit planning, is a perfect fit to round out CAPTRUST’s wealth management offering.”
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By GlobalDataCAPTRUST CEO J. Fielding Miller said: “When we look for firms to join our team, a mutual cultural fit is the most important identifier of a strong, long-term partnership. Brodie, Stan, and the Knox team are an incredible group that exemplifies client-first service, and we’re honored that they have chosen to join CAPTRUST.”
