Captrust Financial Advisors has added Phoenix-based MRA Associates, a 59-person firm with $3.29 billion under management.
In addition to the sizable assets, MRA also brings to Captrust new income and estate tax compliance and consulting services for individuals, families, trusts, and related closely held operating businesses and entities, the companies announced Thursday morning.
“We are proud of the tremendous practice we have built over the last nearly three decades,” said Mark Feldman, MRA’s managing partner and chief executive.
“The decision to join Captrust was an easy one once we understood the considerable level of scale we would be plugging into,” he added. “I believe all of our clients will benefit greatly from the depth of the firm’s investment capabilities, as well their institutional capacity and leverage.”
Captrust, which was founded in 1997 in Raleigh, North Carolina, has added 44 firms since 2006, and oversees more than $50 billion in assets under management and $409 billion in assets under advisement.
MRA’s locations in Phoenix, Las Vegas and Wayzata, Minnesota, will now take on Captrust’s name and branding.
“The Southwest has long been a target market for Captrust, and MRA is giving us a significant presence in the region,” said Rush Benton, senior director of strategic growth at Captrust. “The team has created a phenomenal firm and we look forward to learning from their best practices as we integrate them into Captrust.”
Elsewhere in Utah, Raymond James also welcomed another experienced advisor from D.A. Davidson.
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