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.
“The White House has extremely strict ethical guidelines with respect to issues like this,” said Press Secretary Karoline Leavitt.
Just how much does it cost for a financial advice exec to stay out of prison?
The advisor both prices FSK's private loans and gets paid on those prices, the suit claims
The proposal would end decades of paper-first delivery rules, but keeps a paper opt-out and draws early praise from fund and annuity industry groups.
The Trump accounts are “generationally changing” and bring financial literacy to youth, said IRS chief Frank Bisignano.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
