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Deals & People September 4, 2014
CAPTRUST Makes Midwest Acquisition
CAPTRUST Financial Advisors has entered into a definitive agreement to merge with Defined Contribution Advisors Inc., known as DCAdvisors.
Reported by PLANADVISER staff
After the merger, which is expected to close at the end of the month, CAPTRUST will have more than 300 employees in 20 locations and more than $130 billion of assets under advisement. (CAPTRUST had $120 billion of assets under advisement as of June.)
DCAdvisors, an established institutional investment advisory firm in Minneapolis founded in 1994 by Dan Esch, will become part of CAPTRUST upon completion of the deal.
The acquisition of DCAdvisors is a part of CAPTRUST’s strategic growth plan to add like-minded advisers in retirement markets across the country. In the past five years, CAPTRUST has expanded into nine new markets and has plans for more expansion. (See “CAPTRUST Adds Adviser in Southeast” and “CAPTRUST Adds to Advisory Staff.”)
In joining CAPTRUST, the DCAdvisors team continues its commitment to independent fiduciary management and the kind of unbiased investment recommendations that help create successful employee retirement programs. The team’s extensive experience delivering retirement plan consulting and investment advisory services will provide a boost to CAPTRUST’s presence in the Midwest. DCAdvisors’ Minneapolis office will serve as a regional hub for CAPTRUST as the firm pursues further growth and expansion.