CAPTRUST completes Pacific Investment acquisition
CAPTRUST completes Pacific Investment acquisition
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CAPTRUST Financial Advisors has acquired retirement planning and wealth management services firm Pacific Investment Consultants, the company said.
The acquisition adds roughly 60 retirement plans with $700 million in assets under management to CAPTRUST s client roster, a CAPTRUST spokeswoman said Monday. Terms of the deal, which closed Feb. 26, were not disclosed.
The deal follows CAPTRUST s acquisition in January of Cammack Retirement Group, a registered investment advisory firm with more than 170 plan sponsor clients representing nearly 1.3 million participants. It also in January bought Genovese Burford & Brothers Wealth & Retirement Plan Management, a Sacramento, Calif.-based RIA firm with $3.13 billion in assets under advisement.
CAPTRUST Continues to Grow Northern California Wealth Management Offering with Addition of Pacific Investment Consultants
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RALEIGH, N.C., April 1, 2021 /PRNewswire/ CAPTRUST Financial Advisors (CAPTRUST) today announced that Pacific Investment Consultants (PIC) has joined the growing firm. PIC brings more than $700 million in assets under management (AUM) to CAPTRUST and comes on the heels of the firm adding another Northern California-based team, Genovese Burford & Brothers Wealth & Retirement Plan Management, LLC (GBB).
Based in Folsom, California, PIC provides wealth management and retirement planning to roughly 600 clients. The firm is led by financial advisors Christeen Reeg, Scott Gordon, Bill Altavilla, Debbie Hightower, and Ryan Jantzen, who will join CAPTRUST as principals. The entire PIC team, including four additional team members, will join CAPTRUST.
For RPAs thinking about selling, there may be no time like the present
Over the past several years, the pace of dealmaking has accelerated, and valuations for desirable RPAs have climbed to earnings multiples that not long ago would have stunned buyers and sellers. That makes the present a very good time to consider becoming part of a larger firm.
April 1, 2021 4 MINS
For successful retirement plan advisers who are experiencing rapid growth, selling the business might be the last thing on their minds but that could be a mistake, said guests at Wednesday’s RPA Valuation Workshop.
Over the past several years, the pace of dealmaking has accelerated, and valuations for desirable RPAs have climbed to earnings multiples that not long ago would have stunned buyers and sellers.