Captrust acquires two firms and $2.9 billion in AUM

Watermark in California caters to individuals; Rogers in Virginia focuses on retirement plans

Mar 19, 2019 @ 11:34 am

By InvestmentNews

Captrust Financial Advisors, a Raleigh, N.C.-based wealth management and retirement plan advisory firm, has acquired Watermark Asset Management of San Ramon, Calif., and Rogers Financial of Harrisonburg, Va.

Watermark, a registered investment advisory firm headquartered outside San Francisco, specializes in serving individuals and manages $400 million in assets. It has close to 400 clients. The firm has five advisers, including founder Mark Miller, and three staff members.

(More:Principal-Wells Fargo retirement deal would be among largest ever)

Rogers Financial is an institutional advisory firm that advises on more than $2.5 billion in assets for 35 retirement plans. Founded in 1994, the firm is run by Ken Rogers, who will join Captrust with adviser Jenifer Nesselrodt. Additional terms of both deals are not being disclosed.

Captrust now advises on more than $300 billion in assets from individuals, retirement plans and endowments and foundations. It has 174 advisers at 39 locations nationally.


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