CAPTRUST Financial Advisors today announced that it has added Atlanta-based Stewardship Financial Advisors, which has $873 million in assets under management and nearly 1,000 clients, according to a news release.
Stewardship is the 49th firm to join the Raleigh, N.C.-based independent registered investment advisor since 2006. It will transition to the CAPTRUST name and branding.
Founded in 1997 by Charles B. Pyke Jr., Stewardship specializes in holistic planning, specifically estate planning, asset and risk management, tax planning, retirement income planning, and investment services, the release said.
Pyke will assume the role of principal, financial advisor at CAPTRUST. He will be joined by his team, which includes 10 advisors and support staff. Adding to CAPTRUST’s existing locations in Atlanta and Alpharetta, Ga., Stewardship has two offices in Georgia, in Peachtree City and Stockbridge.
“I founded Stewardship with the mission of helping people to be good stewards of all that has been entrusted to them. We fulfill this mission by offering comprehensive financial planning,” Pyke said in a statement.
He said CAPTRUST’s culture, mission, and core values match that of Stewardship’s. “And their deep resources enhance our holistic planning offerings for our clients. Aligning our team and our clients with CAPTRUST is what we needed to move to the next phase of our growth,” he said in a prepared statement.
Rush Benton, CAPTRUST senior director for strategic growth, said one of the things that attracted them to Stewardship is its “deep expertise in estate planning.” He added, “As we continue to build out our holistic wealth management offering, this is an important piece of the puzzle.”
The acquisition of Stewardship also gives CAPTRUST access to Stewardship’s sister estate planning law firm, Pyke & Associates, which will remain a separate entity.
Stewardship was advised by Park Sutton Advisors LLC and had legal representation from Riezman Berger, the release said.
Founded in 1997, CAPTRUST provides investment advisory, investment management, and planning services to thousands of private clients and institutional investors such as retirement plan fiduciaries, endowments, foundations and religious entities. The firm oversees more than $60 billion in AUM and more than $600 billion in assets under advisement. It has nearly 900 employees across more than 50 locations nationwide.