Captrust Financial Advisors said Monday it has acquired QA Wealth Management, an advisory firm in Minnetonka, Minnesota, that manages $770 million in assets for clients.
QA Wealth, which has 23 employees, specializes in working with Big 4 tax, audit and consulting professionals on financial and retirement planning, while helping them comply with the field’s independence requirements.
The firm was founded in 2000 by John Wing and is led by CEO Dan Westin.
“We’re a values-based fiduciary, compelled by the guiding principle that the best businesses focus on treating others the way they want to be treated,” Wing said in a statement.
The deal gives Captrust, a Raleigh, North Carolina-based registered investment advisor specializing in retirement plans, its third office in Minnesota.
"We are thrilled to tap into the niche market of the Big Four partners that QA supports and to be building on our already significant presence in the Minneapolis region,” Rush Benton, Captrust’s senior director of strategic growth, said in the statement.
Captrust said the deal for QA Wealth was its second this year, following its acquisition last month of $5.8 billion Monroe Vos.
Terms of the transaction were not disclosed. Park Sutton Advisors was QA’s financial advisor on the transaction.
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