The week of September 17, InvestmentNews published a piece highlighting CAPTRUST CEO J. Fielding Miller’s plans to grow the firm’s annual revenue from wealth management to 50 percent (from 30 percent) over the next three to five years.
One of the primary motivations behind CAPTRUST’s ramp-up on the wealth management side is to reinvest in the business and complement the firm’s organic growth. The article goes on to note the potential value of marrying 401(k) and retail advice services.
“The goal is to have both an institutional and retail presence in the top 35 metro areas across the country by the end of 2026. This would allow the firm to provide wealth management for business owners with more than $1 million in investible assets, as well as advice on those same business owners’ company 401(k) plans,” said Miller.
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CAPTRUST Financial Advisors is an independent investment research and fee-based advisory firm specializing in providing retirement plan and investment advisory services to retirement plan fiduciaries, endowments and foundations, and executives and high-net-worth individuals. Headquartered in Raleigh, North Carolina, the firm represents more than $278 billion in client assets from its offices located across the U.S.