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.
Fueled by a recent shot in the arm from private equity firm Carlyle, MAI adds a $490 million Atlanta RIA as it keeps building out its national footprint.
“Todd Burkhalter organized what is likely the largest Ponzi scheme in Georgia history,” said one FBI official.
With experience from Goldman Sachs and TD Ameritrade, the RIA's newest SVP hire adds to a recent wave of executive departures from hybrid Osaic.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
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
