Captrust Financial Advisors has announced the acquisition of two more wealth management practices with a combined $2.8 billion in assets.
Watermark Asset Management, located outside of San Francisco and led by financial advisor Mark Miller, has five advisors in total overseeing $400 million for close to 400 clients, Captrust says in a press release.
And Harrisonburg, Va.-based Rogers Financial, run by Ken Rogers, advises on more than $2.5 billion in assets for 35 retirement plans, Captrust says. The companies didn’t disclose the terms of the deal, which closed in late 2018 but was only announced this week, according to the press release.
Captrust was one of the top actors among consolidators and strategic buyers last year, notching up four announced deals in total, according to a January report from Echelon Partners. That included the acquisitions of Knox Capital Group, Catawba Capital Management, Morton Wealth Management and FCE Group, which together brought in $3 billion in assets, according to Captrust’s most recent press release.
The company intends to continue its growth momentum for the rest of 2019, Captrust says. So far, the company has done more than 30 deals since 2006, and its 174 advisors oversee more than $300 billion from 39 locations, according to the press release.