Captrust Financial Advisors, a Raleigh, North Carolina-based registered investment advisory specializing in retirement plans, has acquired Pacific Investment Consultants, a Folsom, California-based RIA managing $700 million.
Joining Captrust as principals are PIC’s financial advisers — Christeen Reeg, Scott Gordon, Bill Altavilla, Debbie Hightower and Ryan Jantzen.
Four additional team members also have joined.
This is Captrust's second acquisition in Northern California this year. In February, it purchased Genovese Burford & Brothers Wealth & Retirement Plan Management, a Sacramento-based RIA advising on $3.13 billion for nearly 1,500 clients.
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.
With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
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.
