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.
The wealth management giant has bolstered its independent advisor arm again with the latest additions in the Pacific Northwest.
Employees at the auction house nudged wealthy clients to use questionable strategies in order to dodge millions in taxes, according to New York's attorney general.
The giant RIA platform's new turnkey multi-manager program offers automated, tax-aware options to manage $5 billion in assets across its partner firms.
The deal extends the RIA giant's presence in New England with new locations in Boston, Massachusetts, and Maine.
The Cetera subsidiary continues to demonstrate the appeal of its tax focus with its latest independent advisor addition in the East Coast.
A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.
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