Captrust Gains $3B Advisory Team from Truist
Captrust Financial Advisors, a Raleigh, N.C.-based registered investment advisor with $1.3 trillion in assets under management and advisement, announced that the Hoge-Barrett Group, a 13-person wealth management team overseeing more than $3 billion in client assets, has joined the firm in Winston-Salem, N.C.
The team, led by advisor Brett Hoge, traces its roots to 1999 and has built its practice around long-term relationships and comprehensive advice for clients with complex financial needs, according to the announcement. The group was formerly part of broker/dealer Truist Investment Services, a subsidiary of Truist Financial Corporation.
“We chose Captrust because it gives us greater flexibility in how we serve clients, while adding a more in-depth technology stack, deeper investment research and more wealth planning capabilities,” Hoge said in a statement.
Hoge has been a practicing advisor since 1999, according to BrokerCheck, and joined Truist about five years ago from BB&T Securities. Partner Alex Barrett started working as an advisor in 2012 and was with Hoge at BB&T Securities, according to BrokerCheck.
They will now use Captrust’s broker/dealer, Capfinancial Securities.
The move will allow the firm to remain focused on the families it serves while gaining tools to address the complexity that accompanies significant, multigenerational wealth, Hoge said.
The Winston-Salem office will be Captrust’s seventh location in North Carolina, where the firm has over 580 employees, including 111 advisors. It will also be Captrust’s seventh acquisition this year.
“Teams like Hoge-Barrett don’t want to sacrifice scale or resources to gain independence,” Scott Matheson, managing director, head of client solutions at Captrust, said in a statement. “They want both, and Captrust is uniquely positioned to deliver.”
Captrust provides financial advice and investment management services to individuals, endowments, foundations, nonprofit organizations and retirement plan sponsors. Roughly $320 billion of its client holdings are discretionary assets under management, according to its most recent Form ADV.
This September, the RIA acquired two longtime affiliated RIAs in Melville, N.Y., with a combined total of 7 professionals and $1.2 billion in client assets.
Captrust is majority owned by its employees, including CEO and founder Fielding Miller, with minority investments from the Carlyle Group and GTCR.
