With the M&A market for registered investment advisers red hot, Captrust Financial Advisors has struck again, announcing Wednesday that it had acquired the financial advisory business of Boston Advisors, a boutique investment management firm. The deal brings Captrust 15 employees and more than $1.5 billion of client assets.
Terms of the transaction were not disclosed.
With the addition of the Boston Advisors team, Captrust Financial Advisors, based in Raleigh, N.C., now has 234 advisors in 48 locations.
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The firm has been one of the leading buyers of registered investment advisers over the last few years.
According to research from DeVoe & Co., Captrust has made 13 acquisitions, not including its latest, since 2017. It now has $17 billion in assets from wealth management clients, the company said in a press release announcing the deal.
And Captrust has been busy of late. In August, Captrust said it was buying South Texas Money Management, a San Antonio-based RIA firm managing $3.7 billion in assets.
Captrust's primary business is retirement plan consulting, but wealth management has become an increasing focus for the firm.