Captrust Financial Advisors, a Raleigh, North Carolina-based registered investment advisory specializing in retirement plans, has acquired Pacific Investment Consultants, a Folsom, California-based RIA managing $700 million.
Joining Captrust as principals are PIC’s financial advisers — Christeen Reeg, Scott Gordon, Bill Altavilla, Debbie Hightower and Ryan Jantzen.
Four additional team members also have joined.
This is Captrust's second acquisition in Northern California this year. In February, it purchased Genovese Burford & Brothers Wealth & Retirement Plan Management, a Sacramento-based RIA advising on $3.13 billion for nearly 1,500 clients.
Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
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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.
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