At a glance
- Clark Abbott and Robert Hartinger joined from RHA Wealth, a practice they co-founded with another advisor in 2021.
- The additions put Captrust at 470 employees at its Raleigh headquarters and 590 across North Carolina.
- By the release's own figures, the $300 million spread across more than 190 clients works out to roughly $1.6 million of client assets per relationship.
Captrust added a five-person Raleigh team overseeing more than $300 million in client assets, its ninth deal this year, according to a news release reported by Financial Advisor Magazine.
Clark Abbott and Robert Hartinger joined from RHA Wealth, a practice they co-founded with another advisor in 2021. The two were previously part of a Raleigh-based team with Sanctuary Securities, and their client base of more than 190 relationships includes business owners, entrepreneurs, affluent families and individuals moving toward retirement. Three colleagues moved with them. All five will work from Captrust's headquarters in Raleigh and adopt the Captrust brand, the release said.
The additions put Captrust at 470 employees at its Raleigh headquarters and 590 across North Carolina.
By the release's own figures, the $300 million spread across more than 190 clients works out to roughly $1.6 million of client assets per relationship.
The Raleigh book is small next to the team Captrust recruited a week earlier: Hoge-Barrett Group, a 13-person advisor team in Winston-Salem, N.C., with about $3 billion in client assets, roughly ten times the Raleigh total. In September the firm acquired Compass Advisors and Long Island Wealth Management, a pair of affiliated Melville, N.Y., firms overseeing a combined $1.2 billion.
The release does not disclose terms for any of the deals, so the asset figures say nothing about price or seller revenue. What the sequence does show is Captrust running large team recruits and smaller additions folded into an existing office in the same year, which suggests the constraint worth watching is integration capacity rather than capital.
Abbott said in the release that Captrust stood out for "a culture of employee ownership, depth of expertise, and financial planning first approach," adding that the firm thinks about clients and the future of the business much the way his team does. Hartinger said joining "expands what we can offer our clients while preserving the personal relationships that have defined our practice."
Reported by the M&A desk from Financial Advisor Magazine. Published . Corrections