CAPTRUST Financial Advisors continues its growth with a double RIA acquisition adding more than $2 billion of client assets and expanding the firm's presence in Pennsylvania and Northeast Ohio, according to a news release.
CAPTRUST, a Raleigh N.C.-baseed independent wealth management and retirement plan advisory firm, announced that it has added McQueen, Ball & Associates and Cornerstone Capital Advisors to its team.
The Bethlehem, Pa.-based McQueen, Ball & Associates was founded by Jerry McQueen in 1981. The multidisciplinary team, which provides financial planning and investment management services for individuals, families, small businesses, and institutions, manages $1.3 billion of client assets, the release noted.
Cornerstone Capital Advisors, which oversees $770 million in client assets, is based in Green, Ohio. Headed by Mario Giganti, the Cornerstone team utilizes goal-based financial planning to help individuals and families and serves as a “personal CFO” for high-income professionals and entrepreneurs, the release said, adding that the firm’s fiduciary services team assists businesses and nonprofits with their retirement plans and endowments.
CAPTRUST now has more than 200 advisors across 43 locations and advises on more than $300 billion in client assets across its wealth management, retirement plan, and endowment and foundation lines of business, the release noted.
Earlier this year, CAPTRUST brought in three partners from Atlanta-based FiduciaryVest who advise on more than $13 billion in institutional assets. This growth, the release pointed out, comes after a 2018 that saw 21.5 percent revenue growth and $65 billion in new client assets.
“McQueen, Ball & Associates and Cornerstone Capital Advisors bring growth-minded advisors and client rosters that will quickly reap the benefits of our network and scale,’’ said Fielding Miller, founder and CEO of CAPTRUST. “We are excited about the talent and expertise they bring to CAPTRUST.”