Consulting firm gains clients with acquisition

Captrust Financial Advisors agreed to acquire consulting firm Plan Advisory Services, according to a news release from Captrust. The acquisition will give Captrust, a research and consulting firm, about 70 new institutional clients with $1.7 billion in combined assets. Captrust currently advises 500 clients with $15 billion in assets. The deal will also give Captrust a greater presence in New York, New Jersey, Pennsylvania and Connecticut. Bill Kline, director of Captrust retirement plan adviser group, did not return a call requesting further details on the deal.