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Captrust Adds $873M Wealth Mgmt Firm

By Alex Padalka June 11, 2021

Captrust Financial Advisors says it has acquired Atlanta-based Stewardship Financial Advisors.

Founded in 1997 by Charles Pyke Jr., Atlanta-based Stewardship offers estate planning, asset and risk management, tax planning, retirement income planning and investment services, according to Captrust. The addition will bring Captrust $873 million in client assets and close to 1,000 clients, the company says.

The companies didn’t disclose the financial terms of the deal. As part of the acquisition, the entire Stewardship team, including ten advisors, are joining Captrust, while the firm will transition to the Captrust brand, the company says.

In addition, Captrust will be able to tap the services of Stewardship’s sister estate planning law firm, Pyke & Associates, but that firm will remain a separate entity, according to Captrust.

Captrust was one of the largest RIA acquirers in 2020, with five deals, according to DeVoe & Company. The company has kept that pace this year. Earlier this year, Captrust added an $800 million RIA in Pennsylvania as well as a $3.3 billion firm based in Phoenix. Its biggest deal this year, the acquisition of Cammack Retirement Group in February, brought $154 billion in assets, boosting Captrust's assets under advisement by roughly 30%, as reported.

Founded in 1997 in Raleigh, N.C., Captrust has added 49 firms and now has close to 900 employees overseeing more than $60 billion in assets under management and over $600 billion in assets under advisement from more than 50 locations around the country as of June 1, the company says.

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