Captrust acquires RIA managing $700 million

Captrust Financial Advisors, a Raleigh, North Carolina-based registered investment advisory specializing in retirement plans, has acquired Pacific Investment Consultants, a Folsom, California-based RIA managing $700 million.

Joining Captrust as principals are PIC’s financial advisers — Christeen Reeg, Scott Gordon, Bill Altavilla, Debbie Hightower and Ryan Jantzen.

Four additional team members also have joined.

This is Captrust’s second acquisition in Northern California this year. In February, it purchased Genovese Burford & Brothers Wealth & Retirement Plan Management, a Sacramento-based RIA advising on $3.13 billion for nearly 1,500 clients.

[More: Retirement plan aggregator Captrust shores up wealth management business]

The post Captrust acquires RIA managing $700 million appeared first on InvestmentNews.

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