Captrust, a registered investment adviser with $18 billion in wealth management assets, has acquired Wilmington, N.C.-based Fountain Financial Associates, an RIA managing $654 million.
Fountain Financial’s team of 10 employees, including five advisers, joins Captrust’s wealth management practice. The acquisition will be Captrust’s fourth location in North Carolina, the Raleigh-based firm said in a release. The firm’s other North Carolina offices are in Greensboro and Charlotte.
Captrust specializes in providing advisory services to retirement plans and has $368 billion in client assets under advisement. But in the last few years, it has focused on the growth opportunities in retail wealth management and has made a number of acquisition of advisory firms that work with retail investors.
A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.
Some in the industry say that more UBS financial advisors this year will be heading for the exits.
The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
Raymond James also lured another ex-Edward Jones advisor in South Carolina, while LPL welcomed a mother-and-son team from Edward Jones and Thrivent.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
