CAPTRUST Financial Advisors has acquired retirement planning and wealth management services firm Pacific Investment Consultants, the company said.
The acquisition adds roughly 60 retirement plans with $700 million in assets under management to CAPTRUST's client roster, a CAPTRUST spokeswoman said Monday. Terms of the deal, which closed Feb. 26, were not disclosed.
The deal follows CAPTRUST's acquisition in January of Cammack Retirement Group, a registered investment advisory firm with more than 170 plan sponsor clients representing nearly 1.3 million participants. It also in January bought Genovese Burford & Brothers Wealth & Retirement Plan Management, a Sacramento, Calif.-based RIA firm with $3.13 billion in assets under advisement.
CAPTRUST has been on a buying spree since 2006, acquiring 48 firms to date. As of Dec. 31, CAPTRUST had nearly 2,457 plan sponsor clients and 3.2 million participants.
As of Feb. 15, CAPTRUST had $600 billion in assets under advisement and more than $60 billion in assets under management.
