CAPTRUST acquires Davidson & Garrard, a $700 million RIA

Lynchburg, Va.-based advisory firm has 13 employees

Sep 20, 2017 @ 7:00 am

By InvestmentNews

CAPTRUST, a Raleigh, N.C.-based RIA, has acquired Davidson & Garrard, a registered investment advisory firm managing $700 million in Lynchburg, Va. Terms of the deal were not announced.

The acquisition brings assets under management at CAPTRUST, which operates 35 offices nationally, to more than $244 billion.

In a release, CAPTRUST said that Davidson & Garrard's principals — Bill Paxton, Dave Hansen, Jack Flippin and Steve Crank — will remain with the firm, which will adopt the CAPTRUST name. Davidson & Garrard has 13 employees and also operates an office in Lexington, Va.

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