Captrust adds $1.2B Long Island firms in New York double deal

Captrust Financial Advisors has extended its Northeast presence, absorbing two affiliated Long Island wealth management firms with a combined $1.2 billion in client assets in the Empire State.

The double-deal announced Wednesday extends the Raleigh, North Carolina-based RIA's presence in the New York suburbs and marks the latest in its string of acquisitions this year.

Compass Advisors and Long Island Wealth Management, both based in Melville, New York, collectively bring seven professionals to Captrust. The two practices have worked side by side since 2018.

In keeping with Captrust's previous transactions, both will drop their own names and operate under the Captrust brand.

Partners Michael Cuneo and Lauren King launched Compass in 2013 to serve both institutional and wealth management clients, while Jeff Myers started Long Island Wealth Management, or LIWM, in 2006.

The newcomers join an existing Captrust office in Lake Success, New York. That office has 25 employees, including 14 financial advisors.

For the founders, the deal came down to handling more complex client needs without giving up the small-firm feel.

"As the needs of our clients grow and become more complex, we decided to align with CAPTRUST who shares our commitment to fiduciary advice and has developed the expansive tools and resources needed to provide exceptional guidance in an ever-changing world," Cuneo said.

King said the firm's back office was a big factor during due diligence.

"Throughout the due diligence process, CAPTRUST continued to check every box and have been able to provide us extensive operational scale in everything from cyber-security to tax and estate planning all the while allowing our firm to operate as a cohesive team," she said.

Myers described a similar calculation after two decades on his own.

"After 20 years as an independent advisor, I was looking for an organization that allows me to continue providing fiduciary advice and maintain my individual client relationships," he said.

Mike Wunderli, managing director and head of mergers and acquisitions at Captrust, framed the deal around a problem familiar to many growing practices.

"As firms grow, maintaining the same level of personalized service while navigating increasing operational complexity becomes more challenging," Wunderli said. "Michael, Lauren, and Jeff have built practices grounded in independence and deep client relationships."

Captrust M&A revs up in 2026

Captrust hit a milestone $1 trillion in total client assets in the summer of 2024, making it the largest US RIA by combined discretionary and non-discretionary assets. But that hasn't stopped it from pursuing a growth strategy that's accelerated in the past year.

In early February, Captrust unveiled a deal to acquire Kansas City-based Meritage Portfolio Management, which reported about $2.4 billion and 17 employees, including nine advisors. A week later, it announced its acquisition of Alpha Cubed Investments of Orange County, California, which had about $3.8 billion in client assets and a 16-advisor ensemble operating within a larger 28-person team.

In May, Captrust added Stillwater Capital Advisors, a $1.25 billion Pennsylvania firm. The Devon-based practice became its fifth office in the state.

Tracking by consultancy DeVoe & Company counted three Captrust transactions in the first quarter alone, which equaled the firm's deal record for all of 2025. DeVoe credited part of that pickup to Captrust's newly built M&A team, which was anchored by the June 2025 hiring of longtime Echelon Partners banker Mike Wunderli to run its merger strategy.

Last month, Captrust bolstered its inorganic growth engine with the addition of Emily Vennerstrom as senior director of mergers and acquisitions. Most previously serving as chief operating officer at NorthRock Partners, her responsibilities at Captrust includes sourcing targets and taking deals through to closing.