CAPTRUST has racked up another record year of growth, besting its full-year organic growth goal back in September, according to a recent interview between Citywire and Wilson Hoyle, managing director and head of the firm’s Advisor Group. Hoyle spoke with reporter Jake Martin about the firm’s blockbuster year and what the future holds for CAPTRUST.
CAPTRUST is seeing growth across all client types—wealth management, retirement plans, and endowments and foundations. “We are unapologetically a growth company and have been forever,” said Hoyle. “We think the ability to grow organically is the best indicator of a company’s health.” Hoyle spotlighted the firm’s 85 percent year-over-year organic growth in the wealth management business.
In fact, the firm’s focus on organic growth is a significant attractor for acquisition candidates looking to grow themselves. “We focus as much on our organic growth as we do M&A activity,” says Hoyle. “The people joining us are joining us from a position of strength,” he told Citywire. “It’s a buy-in strategy, not a sell-out strategy. We get people who see the same future as us.”
Hoyle credits CAPTRUST’s success to the work the firm has done to build out wealth management practices in locations where it already has a strong presence within the institutional arena. CAPTRUST has completed five acquisitions this year, with the most recent addition being Boston Advisors, a boutique investment management firm with more than 35 years of experience managing assets for institutions and affluent individuals and families. Just prior to Boston Advisors, CAPTRUST bought South Texas Money Management, a leading independent wealth management firm with six offices across Texas.
“We’re not a roll-up, but being able to have firms—like the team from Boston Advisors, for example—is really critical to our success. We’re not doing deals for the sake of doing deals,” says Hoyle. “If the timing is right and everything clicks and we have to do more deals in a year, we can do that, too. We can handle it.”
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CAPTRUST Financial Advisors is an independent investment research and fee-based advisory firm specializing in providing investment advisory services to retirement plan fiduciaries, endowments and foundations, executives, and high-net-worth individuals. Headquartered in Raleigh, North Carolina, the firm currently represents more than $362 billion in client assets with 48 locations across the U.S.