Advisory M&A News – 12/31/24

CAPTRUST Adds Campbell Wealth Management and TruNorth Wealth Partners

CAPTRUST Financial Advisors announced the addition of Campbell Wealth Management in Alexandria, Virginia, and TruNorth Wealth Partners in St. Paul, Minnesota.

Founded in 2003, Campbell is a holistic financial and retirement planning-focused firm. The addition of Campbell establishes CAPTRUST’s first location in Alexandria, VA. A total of 33 colleagues from Campbell will be joining CAPTRUST, along with $1.4 billion in assets.

“Joining CAPTRUST was a natural next step for our firm because it also believes in the importance of financial planning and is helping us to bring deeper resources to clients, including estate planning, more extensive tax planning, and family office services,” Kelly Campbell, CEO of Campbell, said in a statement.

TruNorth, founded in 2005, offers estate planning and multigenerational wealth planning, family education, as well as retirement planning for executives and professionals. The firm also serves institutions, including community and religious entities. TruNorth will bring 10 colleagues and more than $570 million in assets to CAPTRUST.

“Over the years, I’ve had many ideas about additional services that would be really impactful for our clients’ financial lives but were just not feasible, given the size of our firm,” Peter Rekstad, CEO of TruNorth, said in a statement. “With CAPTRUST, we can provide family office services, access to tax planning and compliance, and more, all from trusted CAPTRUST colleagues who uphold our standards of service beyond expectation.”

MAP Retirement and Pension Plan Specialists Announce Merger

MAP Retirement, a provider of tech-enabled administration and compliance solutions for employer-sponsored qualified retirement plans, announced a merger with Pension Plan Specialists, a third-party administrator, based in Vancouver, WA. The merger of MAP and PPS brings together 242 members supporting nearly 10,000 retirement plans.

“Our enhanced capabilities will enable us to deliver unparalleled support and forward-thinking solutions for our clients, strategic partners and financial advisers,” Jo Burt, president of PPS, said in a statement.

MAP Retirement works exclusively with financial advisers, focusing on plan design, compliance, administration, and fiduciary support. The firm currently serves 6,500 across the country. PPS, founded in 2008, specializes in the administration of retirement plans, including 401(k), profit sharing, defined benefit, and cash balance plans.

“The addition of Joe and the greater PPS team will add expertise, scale, automation, and some technology we expect to adopt across the entire organization,” Bob Caroll, partner at MAP Retirement, said in a statement.