Captrust acquires $800 million plan adviser

Captrust Financial Advisors, a Raleigh, North Carolina-based registered investment adviser, has acquired PWA Wealth Management, a Pittsburgh-based RIA that advises on more than $800 million in assets for individuals, small business owners, and institutional clients.

[More: Captrust adds $3.29 billion with MRA Associates deal]

PWA, which was founded in 2003, has 15 employees, including seven financial advisers.

Captrust, which specializes in retirement plans, oversees more than $50 billion in assets under management and $409 billion in assets under advisement.

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