Sunday, May 26, 2024

Raleigh’s Captrust acquires assets of Boston money manager, adding 15 employees

Raleigh’s Captrust Financial Advisors, one of the largest independent U.S. wealth-management and institutional-investment advisory firms, acquired the assets of Massachusetts-based Boston Advisors’ Private Advisory Group.

The transaction, which was completed Oct. 1, adds 15 employees and $1.5 billion assets under management to Captrust’s portfolio. The independent, employee-owned investment advisor oversees more than $340 billion of assets and nearly $17 billion of wealth management assets across its 37 locations in the U.S. Captrust, led by co-founder Fielding Miller, has more than 600 employees and has completed 34 acquisitions since 2006.

According to the deal, Boston Advisors’ Private Advisory Group, led by President and Chief Investment Officer Michael Vogelzang, became Captrust employees and assume the Raleigh financial institution’s brand. Financial details were not disclosed.

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