Captrust Acquires $1.1B Pacific Northwest RIA
Captrust Financial Advisors, a Raleigh, N.C.-based registered investment advisor with $1.3 trillion in assets under advisement, has acquired an Edmonds, Wash.-based registered investment advisor with about $1.1 billion in client assets.
The deal with Pacific Sage Partners, an eight-person team led by founder and CEO Mark Anderson, strengthens Captrust’s footprint in the Pacific Northwest, which includes 14 employees across existing offices in Wenatchee and Bellevue, Wash.
“Mark and his team have built an impressive business with deep client relationships and a strong reputation in the region,” said Mike Wunderli, managing director and head of mergers and acquisitions at Captrust. “Bringing them to Captrust expands our ability to serve wealth management clients in Washington and creates new opportunities for continued growth in the market.”
Anderson founded the RIA in March 2022, after serving as a managing principal at Tradewinds Capital Management, a Shoreline, Wash.-based RIA, for about eight years. Prior to that, he spent 19 years with Edward Jones.
“Captrust also gives us the resources and support to spend less time on the operational side of running a business and more time focused on helping clients navigate important financial decisions,” he said. “That’s what made this opportunity so compelling.”
Anderson is joined by William Cantus, president of PSP; financial advisors Colin Gray and James McBarron; and four client service staff members. The team will take on the Captrust branding.
Captrust has announced 10 deals so far this year, including the most recent, for Hoge-Barrett Group, a 13-person wealth management team overseeing more than $3 billion in client assets in Winston-Salem, N.C. Last month, the firm acquired two longtime affiliated RIAs in Melville, N.Y., with a combined total of seven professionals and $1.2 billion in client assets.
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.
Captrust is majority owned by its employees, including CEO and founder Fielding Miller, with minority investments from the Carlyle Group and GTCR.
