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.
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