Captrust Financial Advisors announced the acquisition of TrustCore Financial Services for its first deal of 2023. This marks Captrust’s 63rd acquisition since 2006.
TrustCore, based in Nashville, Tennessee, has 48 employees and nearly $2.3 billion under management and is led by partner and chief executive Gary Dean.
The deal will add significantly to Captrust's presence in the Middle Tennessee region, where 75% of TrustCore’s clients are located.
Captrust, a Raleigh, North Carolina-based registered investment adviser specializing in retirement plans, first entered the Nashville market with the acquisition of New Market Wealth Management in 2021.
“TrustCore is an exciting addition to the Captrust family,” Captrust senior director of strategic growth Rush Benton said in a statement.
“Gary and his team bring decades of industry experience, and we look forward to growing our business in the Nashville area through their expertise in both individual wealth management and services for nonprofits,” Benton added.
Dean described the deal as taking “our business to the next level.”
“The growth opportunity with Captrust for our entire team is unmatched across the industry,” he added.
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.
