Captrust, a registered investment adviser with $18 billion in wealth management assets, has acquired Wilmington, N.C.-based Fountain Financial Associates, an RIA managing $654 million.
Fountain Financial’s team of 10 employees, including five advisers, joins Captrust’s wealth management practice. The acquisition will be Captrust’s fourth location in North Carolina, the Raleigh-based firm said in a release. The firm’s other North Carolina offices are in Greensboro and Charlotte.
Captrust specializes in providing advisory services to retirement plans and has $368 billion in client assets under advisement. But in the last few years, it has focused on the growth opportunities in retail wealth management and has made a number of acquisition of advisory firms that work with retail investors.
Plus, a $400 million Commonwealth team departs to launch an independent family-run RIA in the East Bay area.
The collaboration will focus initially on strategies within collective investment trusts in DC plans, with plans to expand to other retirement-focused private investment solutions.
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