Captrust Financial Advisors has boosted its assets under administration to more than $600 billion with the acquisition of New York-based Cammack Retirement Group.
Cammack, which was founded more than 50 years ago, brings $154 billion in retirement plan assets under administration to the national Captrust network.
While Cammack is already a large and established firm specializing in retirement plans, its executives said partnering with Captrust was about becoming part of a larger organization.
“As we’ve grown, we’ve had a national footprint for a little while, and even though we had many locations, we were at a disadvantage by not being with an organization with locations in all 50 states,” said Jeff Levy, Cammack managing partner.
In an environment of record-setting merger and acquisition activity, Levy said, “People have been chasing us for a year.”
“We have for a long time felt we had a high presence in the retirement plan industry, but we weren’t interested in simply being absorbed,” he said. “We wanted to partner with someone with the same vision, ethics and nature of services.”
In addition to Levy, Cammack’s leadership team includes Mike Volo, Emily Wrightson, Mike Sanders and Earle Allen, who all join Captrust as principals.
“Cammack Retirement Group and Captrust are two of the largest firms in the institutional retirement space, with Cammack Retirement serving over 170 plan sponsors, which represents nearly 1.3 million participants,” said Rick Shoff, managing director of the advisor group at Captrust.
Cammack represents the 47th firm that has joined Captrust since 2006 and will take on the Captrust brand moving forward.
A $141M judgment and a federal asset freeze collide over one shrinking pool
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
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
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
