Captrust adds Normann Financial

The Sanford, North Carolina-based firm oversees $1.3 billion in assets.

Normann Financial has found a new home at Captrust Financial, both companies announced Friday.

Sanford, North Carolina-based Normann Financial Group currently manages more than $1.3 billion in assets.

Kel Normann started at Interstate Securities in 1986, which merged with Johnson Lane in 1988; that firm became Wachovia Securities, which merged with Wells Fargo. Normann, who has led his firm since 2015, said that joining Captrust will help him focus on the things that he loves.

“That’s running my team, growing my practice and serving my clients. Joining Captrust is going to allow me to do that,” he said.

Normann added that the deal also means he and his team will become shareholders of Captrust. “It has allowed me the opportunity to roll my equity into a company that is continuing to grow and has a tremendous growth ahead of it.”

The move expands Captrust’s footprint across North Carolina, with offices already in Raleigh, Charlotte, Greensboro and Wilmington. North Carolina already has the largest Captrust presence in the country, with more than 500 employees.

Normann Financial works with clients in comprehensive financial planning, including retirement and estate planning, lending solutions, and education planning.

The addition of Normann Financial marks Captrust’s eighth deal this year and its 71st since 2006.

“Instead of being $1 billion strong, we’re going to be over $800 billion strong,” Normann said. “It just adds a lot of strength and scale. I think that’s going to make us more efficient and that’s going to really pay off and benefit our clients.”

Normann said he hopes to achieve continued happiness and growth for his practice and his staff. All nine of his colleagues will join Captrust.