CAPTRUST Financial Advisors has acquired QA Wealth Management, a Minnetonka, Minn.-based firm with $770 million in advisory assets, according to a news release.
Financial terms were not disclosed. QA will take on CAPTRUST branding.
Founded by John Wing in 2000, the firm is led by CEO Dan Westin. It provides financial advice, planning and investment management for individuals, with a specialization in working with “Big Four” professionals, “providing them with financial and retirement planning, as well as helping them to navigate the complex independence requirements of their chosen field,” the release noted. The team comprises 23 members.
“We’re a values-based fiduciary, compelled by the guiding principle that the best businesses focus on treating others the way they want to be treated,” Wing said in a statement.
QA’s addition will more than double CAPTRUST's talent in the Greater Minneapolis Area, the release said, noting that the firm has offices Minneapolis and Wayzata. The deal is the second this year for the Raleigh, N.C.-based CAPTRUST and its 65th since 2006.
"We are thrilled to tap into the niche market of the Big Four partners that QA supports and to be building on our already significant presence in the Minneapolis region,” said Rush Benton, CAPTRUST’s senior director of strategic growth. “The QA team has specific and valuable knowledge of this industry and bringing them on to CAPTRUST only enhances our wealth offering.”
Founded in 1997, CAPTRUST provides investment management, financial planning, estate planning, and tax advisory and compliance services for individuals and families. The firm oversees more than $714 billion in assets, including just over $598 billion in nondiscretionary assets under advisement and just under $116 billion in discretionary managed account assets, as of December 31, 2022. It has more than 1,300 employees across 75 locations nationwide.