CAPTRUST acquires Davidson & Garrard, a $700 million RIA

Lynchburg, Va.-based advisory firm has 13 employees.
SEP 20, 2017

CAPTRUST, a Raleigh, N.C.-based RIA, has acquired Davidson & Garrard, a registered investment advisory firm managing $700 million in Lynchburg, Va. Terms of the deal were not announced. The acquisition brings assets under management at CAPTRUST, which operates 35 offices nationally, to more than $244 billion. In a release, CAPTRUST said that Davidson & Garrard's principals — Bill Paxton, Dave Hansen, Jack Flippin and Steve Crank — will remain with the firm, which will adopt the CAPTRUST name. Davidson & Garrard has 13 employees and also operates an office in Lexington, Va.

Latest News

Caprock expands Texas footprint with $4B Venturi acquisition
Caprock expands Texas footprint with $4B Venturi acquisition

Deal brings 10 advisors and deeper family office reach to Austin market.

Mariner aims to ‘break growth ceiling’ by deploying AI workforce of 700
Mariner aims to ‘break growth ceiling’ by deploying AI workforce of 700

Mega-RIA to adopt AI workforce at enterprise scale as firm rethinks growth without hiring.

Goldman leads wave of prediction market bans at financial firms
Goldman leads wave of prediction market bans at financial firms

As Goldman Sachs tightens rules on event contract trading, RIAs and hedge funds are weighing their own policies

Advisor moves: Baird recruits $600M veteran pair to director roles in North Carolina
Advisor moves: Baird recruits $600M veteran pair to director roles in North Carolina

Meanwhile, Wells Fargo lures defectors from UBS and JPMorgan to expand in the East Coast, while another bank aligns itself with RayJay's financial institutions division.

AI may be nudging some older workers into early retirement, study finds
AI may be nudging some older workers into early retirement, study finds

New research suggests AI-exposed workers over 55 are leaving jobs more often than before ChatGPT’s rise.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

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