Captrust Financial Advisors, a Raleigh, North Carolina-based registered investment adviser managing $60 billion, has agreed to acquire Ellwood Associates, a Chicago-based firm overseeing $85 billion in assets.
The deal, the terms of which were not disclosed, represents Captrust’s first foray into Chicago. Ellwood Associates is the 51st firm that Captrust has acquired since 2006.
A total of 55 Ellwood employees will be joining Captrust, including a team of consultants with an average of 20 years of industry experience.
Ellwood, which was founded in 1977, serves endowments and foundations, retirement plans, hospitals, family offices and high-net-worth individuals. It will also add expertise on alternative investments to Captrust’s investment team.
“When looking for the next step for Ellwood, we knew we wanted to be a part of a majority employee-owned firm to continue our own legacy of employee ownership,” Timothy Egan, a senior consultant and healthcare practice leader at Ellwood, said in a press release. Egan will become a principal at Captrust..
Captrust, which specializes in retirement plans, advises on $600 billion in assets.
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
Elsewhere, Sanctuary Wealth recently attracted a $225 million team from Edward Jones in Colorado.
The giant hybrid RIA is elevating its appeal to advisors with a curated suite of alternative investment models, offering exposure to private equity, private credit, and real estate.
The $40 billion RIA firm's latest West Coast deal brings a veteran with over 25 years of experience to its legacy division for succession-focused advisors.
Invictus fund managers allegedly kept $10 million in plan assets after removal, setting off a legal fight that raises red flags for wealth firms.
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.
