Captrust Financial Advisors acquired a Texas wealth management firm, Engrave Wealth Partners, that oversees $770 million in client assets, it announced Thursday.
Ten team members at Engrave are joining Captrust, including the firm’s co-founders, Greg Parker and Taylor Parker, who are father and son.
“We recognized the challenges of continuing to serve our existing clients at the highest level while continuing to grow,” Greg Parker said in a statement. “Ultimately, we were looking for a partner who could help us deepen our offering to existing clients while accelerating our organic growth strategy.”
Engrave is based in The Woodlands and most of its clients are corporate executives or small business owners, many in the oil and gas industry.
“The resources we are most excited to access at Captrust are the investment and tax services,” Taylor Parker said in the statement. “They will significantly deepen the expertise we can offer.”
The Engrave deal closed in late 2023, and the firm will rebrand as Captrust. Waller Helms Advisors advised Engrave on the transaction.
Raleigh, North Carolina-based Captrust has been expanding in Texas and now has more than 170 employees in the state. Its acquisitions last year in Texas, in addition to Engrave, were Monroe Vos Consulting, Omega Wealth Partners and Southern Wealth Management.
Captrust, which has expanded into wealth management after initially focusing on working with retirement plans, now oversees more than $817 billion in assets, including $668 million in assets under advisement, and has 1,500 employees.
The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.
The fintech firms' new tools and integrations address pain points in overseeing investment lineups, account monitoring, and more.
Canadian stocks are on a roll in 2025 as the country prepares to name a new Prime Minister.
Carson is expanding one of its relationships in Florida while Lido Advisors adds an $870 million practice in Silicon Valley.
The approval of the pay proposal, which handsomely compensates its CEO and president, bolsters claims that big payouts are a must in the war to retain leadership.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
