CAPTRUST Financial Advisors agreed to acquire and merge Parker Carlson & Johnson Investment Management, a Dayton, Ohio-based wealth management and investment advisory services firm, into its wealth management practice, a news release said.
Terms of the transaction, which is expected to close within 30 days, were not disclosed.
The decision to partner with CAPTRUST was the result of a six-month search conducted by Parker Carlson & Johnson’s principals with the assistance of outside mergers and acquisitions adviser David Selig, CEO of Advice Dynamics Partners.
This announcement follows CAPTRUST’s July merger with Bethlehem, Pa.-based MFP Strategies, which added $5 billion in assets under advisement and 25 employees to CAPTRUST and expanded its wealth management, and investment and retirement plan advisory services.
Once the deal closes, CAPTRUST will have more than 340 employees in 26 office locations servicing a nationwide client base of wealth management and corporate retirement plan clients. Parker Carlson & Johnson’s clients include corporate retirement plans, foundations and endowments.
CAPTRUST Financial Advisors has $176 billion in assets under advisement. Parker Carlson’s AUA could not be learned by press time.
Further information could not be learned by press time; John Curry, senior director of marketing at CAPTRUST, did not return a phone call.