Captrust Financial Advisors is buying RINET Co., its eighth deal of the year. The Boston-based RIA joins Captrust with $2.2 billion of assets and 26 staffers.
The latest purchase comes 10 months after Captrust bought Cammack Retirement Group, which added $154 billion in retirement assets and offices in Wellesley, Massachusetts (near Boston), as well as in New York and Lexington, Kentucky. Captrust also bought Boston Advisors' Private Advisory Group in 2019.
"It has been our belief since we began acquiring firms in 2006 that there is a clear benefit to offering both wealth and institutional services within a single market," according to Rush Benton, senior director, strategic growth for Captrust.
"This has been one of our main drivers of deals for us and has helped us to accelerate our integration process when we are growing in markets where we already have a footprint," Benton added.
