Captrust Financial Advisors recently completed the acquisition of Southern Wealth Management, an esteemed Texas-based firm. With 62 employees and offices in four locations, Southern Wealth Management manages an impressive $2.3 billion in assets.
Continuous Expansion through Strategic Acquisitions
Captrust has been steadily expanding its presence through a series of strategic acquisitions. In fact, the company has successfully completed five deals this year alone, and a remarkable total of 69 since its establishment in 2006. As a result of these acquisitions, RIAs integrated into Captrust adopt the distinguished Captrust brand.
Significance of the Southern Wealth Management Acquisition
According to Rush Benton, Captrust’s senior director of strategic growth, the acquisition of Southern Wealth Management will significantly enhance Captrust’s existing tax practice. Benton states, “The extensive offerings that Southern Wealth Management brings in the family office space are a win for Captrust. This is a niche we are excited to build on, and their expertise will make our offering even more competitive.”
A Well-established Name in the Wealth Management Industry
Southern Wealth Management, headquartered in San Antonio, was established in 2005. The firm also operates offices in New Orleans, Dallas, and Midland. With a specialization in serving ultra-high-net-worth families, Southern Wealth Management offers comprehensive services including tax planning, business succession planning, financial planning, and estate planning.
Welcome Additions to the Captrust Team
As part of the acquisition deal, Managing Partner Dick Jones will join Captrust along with the rest of the Southern Wealth Management team. Jones expresses his optimism about joining Captrust, having full confidence that his firm’s longevity and growth will be well-supported. He adds, “Our team looks forward to expanding our network and resources for the benefit of our clients and for our people.”
Continual Growth in Texas
Captrust’s expansion in Texas has been commendable. Prior to the acquisition of Southern Wealth Management, Captrust successfully acquired two other Texas-based firms: Monroe Vos Consulting in Houston and Omega Wealth Partners in Fort Worth.
About Captrust Financial Advisors
Founded in 1997, Captrust Financial Advisors is headquartered in Raleigh, North Carolina. With a team exceeding 1,300 employees, Captrust oversees assets totalling over $714 billion as of the end of last year. The company’s remarkable presence and accomplishments have earned it a place among the Top 100 RIAs for 2022.