By Andrew Welsch
Captrust Financial Advisors has inked another big deal. It is acquiring Carolinas Investment Consulting, a Charlotte, N.C., wealth management firm that oversees more than $1.4 billion in assets. Captrust didn't disclose terms of the deal, which closed in January.
The acquisition is the latest by Captrust, which has acquired dozens of registered investment advisory firms over the past 15 years. The Raleigh, N.C.-based firm is ranked as Barron's No. 6 Mega RIA on its Top 100 RIA Firms for 2024. Captrust oversees more than $1 trillion in assets, according to the company.
Carolinas Investment Consulting was founded in 2001 by George Edmiston, who has more than 40 years of experience in the investment industry, according to regulatory records. The 20-member firm serves families, endowments, retirement plans, and corporations.
Edmiston said that joining forces with Captrust "will help us continue to offer our team and clients the culture and experience they have been accustomed to far into the future."
As with Captrust's other acquisitions, Carolinas Investment Consulting is adopting the Captrust brand. Carolinas Investment Consulting's office is Captrust's second location in Charlotte.
"George and I have been friends and competitors for over 20 years," says Fielding Miller, co-founder and CEO of Captrust. "CIC has had a sterling reputation in the Carolinas which will immediately improve our market opportunities and elevate our brand."
Captrust's recent acquisitions include Boston Financial Management, a registered investment advisor that oversaw nearly $5 billion of client assets, which the company bought in November.
The following month, Captrust unveiled two more acquisitions: Campbell Wealth Management and TruNorth Wealth Partners, which had a combined $2 billion in assets, according to Captrust.
Write to Andrew Welsch at andrew.welsch@barrons.com
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March 05, 2025 06:00 ET (11:00 GMT)
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