CAPTRUST Financial Advisors today announced that it has acquired Monroe Vos Consulting, a $5.8 billion Houston-based firm with an additional location in Birmingham, Ala.
The deal is the first for CAPTRUST in 2023 and the 64th since 2006. Financial terms were not disclosed. Monroe Vos will take on CAPTRUST branding.
Founded by Jim Monroe and Tim Vos in 1994, Monroe Vos provides advisory services for retirement plan sponsors, endowments and foundations and provides wealth management services to high-net-worth individuals and family offices. The team of 17 will join CAPTRUST, a press release noted.
“The genesis of Monroe Vos was to avoid conflicts of interest and to put clients first—and the alignment of these values led us to choose CAPTRUST. CAPTRUST’s culture and philosophy have a lot of similarities to ours at Monroe Vos. We had commonality when it comes to the care of the client,” Vos said in a statement.
Rick Shoff, managing director of CAPTRUST’s Advisor Group, said Monroe Vos has been a leader in the industry for decades. “Tim and the entire firm bring an experienced perspective across all three of our business lines. We look forward to joining forces in Texas—especially as we continue to expand in this market,” he said in a statement.
Raleigh, N.C.-based CAPTRUST has had a presence in Texas for more than a decade, with more than 100 employees, the release noted. In 2021, it added Covenant Multifamily Offices, a $2.6 billion firm in San Antonio and in 2019 South Texas Money Management, a $3.7 billion firm also in San Antonio, came on board.
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 $125 billion in assets under management and more than $775 billion in assets under advisement, as of Dec. 31, 2022. It has more than 1,300 employees across more than 75 locations nationwide.