CAPTRUST Financial Advisors has acquired Engrave Wealth Partners, a $700 million firm in The Woodlands, a community 30 miles north of downtown Houston, according to a news release.
The 10-member team joined CAPTRUST in late 2023 and will take on the CAPTRUST brand, the release said. The financial terms of the deal were not disclosed.
Co-founded by Greg Parker and Taylor Parker, Engrave provides retirement planning for individuals, including tax planning and estate planning to clients in Texas, Louisiana, and California, the release said, adding that most of the firm’s clients “are corporate professionals or small business owners nearing or in retirement, many with a background in the oil and gas industry.”
“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.”
Taylor Parker added that CAPTRUST’s investment and tax services were a big draw for the team. “They will significantly deepen the expertise we can offer and will elevate the experience we provide to our clients,” he said.
Engrave is the fourth team in Texas and the second in Houston acquired by the Raleigh, N.C-based CAPTRUST. The firm now has 170 employees in the state, the release noted.