Captrust Financial Advisors says it’s acquired Wilmington, N.C.-based Fountain Financial Associates.
Founded in 1998 by financial advisor Vinton Fountain III, Fountain now has 10 employees, including four more advisors: Buck Beam, Brice Gibson, Chris Riley and Bob Warwick, according to a press release from Raleigh, N.C.-based Captrust.
"The Captrust brand is one that not only has a strong bedrock in our home state of North Carolina, but throughout the entire country. When we evaluated options for our clients, employees and the Wilmington office, we were pleased to see the answer was right in our own backyard," Fountain, president and founder of Fountain, says in the press release.
The companies didn’t disclose the financial terms of the deal.
Last year, Captrust added several multibillion-dollar wealth practices, including the $13 billion FiduciaryVest. And Captrust’s strategic wealth senior director Rush Benton told FA-IQ in December that the company is aiming for five or six acquisitions per year.
Founded in 1997, Captrust currently has more than 650 employees around the country overseeing $368 billion in client assets under advisement, the company says.
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