Captrust Financial Advisors, a Raleigh, North Carolina-based retirement plan specialist that manages and oversees $745 billion in assets, has acquired Portfolio Evaluations Inc., a Warren, New Jersey-based retirement firm managing $107 billion in assets.
Portfolio Evaluations was founded in 1992 and has several hundred clients. It's led by co-founders Attila Toth, Michael Sasso and Rich Torbinski.
Terms of the acquisition, which closed late last year, were not disclosed. Portfolio Evaluations is Captrust's 54th acquisition since 2006, and its third in 2021, following its purchases of Cammack Retirement Group and Ellwood Associates.
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It is not clear how many employees will be affected, but none of the private partnership's 20,000 financial advisors will see their jobs at risk.
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