CAPTRUST Expands New England Presence With Boston Financial Management
Raleigh, N.C. – November 14, 2024 – CAPTRUST Financial Advisors (CAPTRUST) today announced the addition of Boston Financial Management (BFM). The firm adds nearly $5 billion of client assets, an additional location in Boston, and two new locations in Cape Cod, Massachusetts, and Portland, Maine.
Boston Financial Management provides wealth management and investment advisory services for individuals, families, endowments, and nonprofits. They bring deep expertise in wealth and financial planning, trust services, and estate planning.
Led by President and CEO Louis Crosier, BFM adds 45 new colleagues to CAPTRUST across three locations. As part of the transaction, BFM Founder and Chairman of the Board Richard H. Morse will retire.
“To me, culture means what you value and how you treat people. From the first meeting it was clear that CAPTRUST feels the same and treats their clients and colleagues like we do—genuinely caring about them and working creatively to achieve the best outcomes,” said Crosier. “I believe that clients will quickly see the value that comes from being part of a larger firm and enjoy the new resources they will have access to.”
“Boston Financial Management is one of the largest firms that have joined us,” said Wilson Hoyle, managing director at CAPTRUST. “Their commitment to providing personalized and comprehensive financial solutions aligns perfectly with our values and mission. By bringing together our teams, we can offer even greater resources and expertise to our clients in New England. We are excited about the growth opportunities this union presents and about the ability to serve our clients with enhanced offerings.”
Founded in 1976, BFM is a proud member of the 2024 Forbes’ list of America’s Top RIA Firms (#19).
BFM is the sixth Massachusetts firm that CAPTRUST has added over the last five years, including Boston Advisors, Cammack Retirement Group, and RINET. The firm now has over 100 employees across five locations in Massachusetts, making it the third largest state for CAPTRUST, behind North Carolina and Texas.
Berkshire Global Advisors served as BFM’s financial advisor in the transaction.
About CAPTRUST
CAPTRUST was founded in 1997 as an independent registered investment advisor. The firm provides investment management, financial planning, estate planning, and tax advisory and compliance services for individuals and families. The firm also offers a comprehensive suite of services for ultra-high-net-worth individuals to simplify their financial lives, mitigate risk, and perpetuate their legacies. For retirement plan sponsors, endowments, foundations, and religious entities, CAPTRUST offers investment advisory services, fiduciary support, plan design, provider analysis and fee benchmarking, and employee advice programs.