CAPTRUST Financial Advisors today announced that it has acquired TrustCore Financial Services, a Nashville, Tenn.-based registered investment advisor that oversees nearly $2.3 billion in assets.
The deal closed in late 2022. Financial terms were not disclosed. TrustCore will take on CAPTRUST's branding.
Led by partner and CEO Gary Dean, TrustCore supports individuals, families, endowments and foundations. The team of 48 includes 16 financial advisors who focus on a holistic approach to providing client service, the release said, noting that more than 75% of the firm’s clients are located in the Middle Tennessee region.
“Joining CAPTRUST takes our business to the next level,” Dean said in a statement. “The growth opportunity with CAPTRUST for our entire team is unmatched across the industry. We look forward to tapping into the valuable resources the firm has to offer to make our clients’ experience even better.”
Rush Benton, CAPTRUST senior director of strategic growth, said they are excited to have TrustCore on board. “Gary and his team bring decades of industry experience, and we look forward to growing our business in the Nashville area through their expertise in both individual wealth management and services for nonprofits,” he said.
TrustCore is the 63rd firm for the Raleigh, N.C.-based CAPTRUST since 2006 and its second office in Nashville, following the addition of New Market Wealth Management in 2021.
Founded in 1997, CAPTRUST provides investment management, financial planning, estate planning, and tax advisory and compliance for individuals and families. The firm oversees more than $100 billion in AUM and more than $750 billion in assets under advisement, as of September 2022. It has more than 1,200 employees across more than 70 locations nationwide.