Captrust Financial Advisors, a Raleigh, North Carolina-based registered investment adviser, has acquired Genovese Burford & Brothers Wealth & Retirement Plan Management, a Sacramento, California-based RIA advising on $3.13 billion for nearly 1,500 clients.
GBB was founded in 1987 by Mike Genovese and Lon Burford. Other principals are Alex Brown, the chief executive, and partner Kelly Brothers. The firm's 36 employees include 17 financial advisers.
Captrust oversees more than $50 billion in assets under management and $409 billion in assets under advisement. GBB is the 46th firm it has acquired since 2006.
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Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
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