Advisory M&A News – 11/18/24

CAPTRUST Adds Boston Financial Management

CAPTRUST Financial Advisors announced the addition of Boston Financial Management LLC. The firm adds nearly $5 billion of client assets, an additional location in Boston, and two new locations in Centerville, Massachusetts (on Cape Cod), and Portland, Maine.

Founded in 1976, Boston Financial Management provides wealth management and investment advisory services for individuals, families, endowments and nonprofits. The company brings expertise in wealth and financial planning, trust services and estate planning.

Led by President and CEO Louis Crosier, BFM adds 45 new colleagues to CAPTRUST across its three locations. As part of the transaction, BFM Founder and Chairman of the Board Richard H. Morse will retire.

BFM is the sixth Massachusetts firm that CAPTRUST has added in the last five years, including Boston Advisors, Cammack Retirement Group and Rinet. CAPTRUST now has more than 100 employees across five locations in Massachusetts, making it the firm’s third-largest state, behind North Carolina and Texas.

Mercer Advisors Acquires Chapel & Collins, Waypoint Capital Advisors

Mercer Advisors has expanded with the acquisition of Colorado registered investment adviser Chapel & Collins LLC and Minnesota investment advisory and financial planning firm Waypoint Capital Advisors LLC, together adding approximately $1.7 billion in assets with double deal.

The team of seven at Chapel & Collins manages approximately $675 million in assets for more than 500 clients. The firm provides wealth management, preservation and transfer strategies for multi-generational families, as well as advisement for corporate retirement plans. The addition takes Mercer Advisors’ AUM in Colorado to almost $5 billion across seven offices and more than 150 employees.

Minneapolis-based Waypoint Capital Advisors manages about $1 billion in client assets for ultra-high-net-worth individuals and families. Waypoint is led by Jon Kennedy, its CEO and managing partner.

“Mercer Advisors will be a long-term home for our 12 professionals, who are excited to access the full-service wealth management services, resources, and capabilities of a high-caliber RIA,” Kennedy said in a statement.

Integrated Partners ExpandsWith Generation Capital Advisors

Integrated Partners, a national financial planning and RIA serving more than $20 billion in AUA, announced the launch of its latest affiliate partner, Boston-based Generation Capital Advisors.

Samuel Diarbakerly founded GCA to provide boutique private wealth management services, specializing in sophisticated tax, estate and investment strategies. Previously, Diarbakerly spent nearly seven years as a wealth planner at Merrill Lynch earlier in his career. Most recently, he served as a private wealth adviser and senior vice president at Claro Advisors, splitting his time between the firm’s Boston headquarters and Naples, Florida.

Diarbakerly will continue to divide his time between Massachusetts and Florida. He is joined at GCA by Rex Berger, assistant vice president and private wealth manager, who leads the firm’s holistic family office approach. Brandon Franco, senior private wealth relationship manager, completes the team.

“I’ve always been driven to maintain the highest standards in every aspect of business,” Diarbakerly said in a statement. “I closely observed how Integrated supported other firms in doing the same, and I was genuinely impressed. They uphold the same level of service we hold ourselves to, which is why I was confident Integrated was the right choice for GCA when we sought a partner.”