CAPTRUST Financial Advisors acquired registered investment adviser TrustCore Financial Services, a news release said Thursday.
Terms of the deal, which closed in late 2022, were not disclosed. TrustCore has $2.3 billion in assets under advisement, primarily with individuals and families. A CAPTRUST spokeswoman said the firm has 16 foundation and endowment clients with about $57 million in assets.
This latest acquisition represents CAPTRUST's second acquisition of a Nashville, Tenn.-based RIA in the past two years. The firm acquired New Market Wealth Management in 2021.
The current transaction follows the firm's acquisition earlier in the fall of 2022 of RIA firm Patriot Pension Advisors, which added more than $900 million in assets under advisement under the CAPTRUST name.
Overall, CAPTRUST has acquired 63 firms since 2006, and like other firms acquired by CAPTRUST, TrustCore will be integrated into the CAPTRUST name.
As of Sept. 30, CAPTRUST Financial Advisors had more than $750 billion in assets under advisement.
