CAPTRUST Financial Advisors, an investment research and advisory firm, announced they have entered into a letter of intent to acquire substantially all of the assets of Philadelphia-based Plan Advisory Services, Inc.
As a result of the acquisition, CAPTRUST broadens its presence in the Pennsylvania, New Jersey, New York, and Connecticut markets, and will now have 30 advisers representing over 500 clients with assets under advisement in excess of $15 billion. As part of the transaction, a majority of the Plan Advisory Services, Inc., staff will join CAPTRUST, including Principal Rick Shoff.
Plan Advisory Services, Inc., provides independent investment consulting and research services to approximately 70 institutional clients with over $1.7 billion of assets.
Founded more than 17 years ago, CAPTRUST is headquartered in Raleigh, N.C. and has offices in Atlanta, GA, Charlotte, N.C., Richmond, VA, and Washington D.C.