Captrust Financial Advisors, a prominent registered investment advisor (RIA) headquartered in Raleigh, North Carolina, has significantly expanded its reach and capabilities with the acquisition of Stillwater Capital Advisors, a wealth management firm based in Devon, Pennsylvania. This strategic move, announced recently, integrates Stillwater’s $1.25 billion in client assets into Captrust’s rapidly growing platform, which now boasts over $1.2 trillion in assets under advisement and management. The acquisition not only strengthens Captrust’s presence in the Northeast but also underscores the ongoing trend of consolidation within the wealth management industry.
Stillwater Capital Advisors, founded by co-founder Doug Swope and a team of five additional professionals, offers a comprehensive suite of investment and wealth management services. Their client base spans individuals, small businesses, endowments, and foundations, reflecting a diversified approach to financial stewardship. For Captrust, this integration represents the addition of its fifth office in Pennsylvania, a state with a robust financial services sector. As is customary with Captrust acquisitions, Stillwater Capital Advisors will transition to operate under the Captrust brand, a move that streamlines client experience and reinforces the unified identity of the larger organization.
The integration of Stillwater’s assets into Captrust’s existing discretionary wealth management division is particularly noteworthy. Captrust’s discretionary wealth assets have surged to over $320 billion, demonstrating a consistent and successful strategy of organic growth coupled with strategic acquisitions. Stillwater’s $1.25 billion in client assets, primarily held in discretionary wealth accounts as indicated by their most recent Form ADV filings, align seamlessly with Captrust’s core business. This synergy suggests a smooth operational transition and a shared philosophy in client service and investment management.
Doug Swope, co-founder of Stillwater Capital Advisors, expressed optimism about the acquisition, stating, "Joining Captrust gives us access to a network of resources and technology, which will free up more of our time to help our clients with their financial, family, and life goals." This sentiment highlights a key driver behind many RIA acquisitions: the desire to leverage the scale, technology, and support infrastructure of a larger entity to enhance client service and operational efficiency, while maintaining a client-centric focus. The move also allows Stillwater’s team to concentrate more on strategic financial planning and advisory services, rather than being burdened by administrative and technological overhead.
This acquisition by Captrust is part of a broader industry trend characterized by consolidation. Larger RIAs and wealth management platforms are actively seeking to acquire smaller firms to gain market share, expand geographic reach, and enhance their service offerings. The ability to provide a wider array of services, from sophisticated investment management to comprehensive financial planning and estate planning, is increasingly crucial in attracting and retaining high-net-worth clients. Captrust, backed by private equity firms GTCR and The Carlyle Group, possesses the financial wherewithal to pursue an aggressive acquisition strategy. The fact that Captrust is majority-owned by its managers and employees also suggests a culture that values long-term growth and client relationships, which can be appealing to acquired firms.
FP Transitions, a firm specializing in M&A advisory for the wealth management industry, served as the advisor to Stillwater Capital Advisors in this transaction. Their involvement underscores the specialized expertise required to navigate these complex deals, ensuring that both buyer and seller achieve their strategic objectives. The successful completion of this deal further solidifies Captrust’s position as a leading consolidator in the RIA space.
Broader Industry Dynamics and Implications
The acquisition of Stillwater Capital Advisors by Captrust is emblematic of several key dynamics shaping the wealth management landscape. Firstly, the continued growth of large, integrated RIA platforms signifies a maturation of the industry, moving beyond fragmented ownership to more centralized, scalable models. This trend is driven by client demand for comprehensive services, the increasing complexity of financial markets, and the need for robust technology infrastructure.
Secondly, the acquisition highlights the strategic importance of geographic expansion. By adding a fifth office in Pennsylvania, Captrust is not only strengthening its presence in a key market but also potentially gaining access to new client demographics and referral networks. This is particularly relevant as advisors increasingly seek to serve clients across different regions, often through virtual means, but with a physical presence offering a tangible connection.
Thirdly, the focus on "discretionary wealth management" is a critical indicator. As highlighted by the substantial growth in Captrust’s discretionary assets, this segment of the market, where advisors have the authority to make investment decisions on behalf of clients, is a prime target for growth. This model allows for more proactive and tailored portfolio management, which is highly valued by sophisticated investors.
The involvement of private equity firms like GTCR and The Carlyle Group in Captrust’s ownership structure also points to the significant capital flowing into the wealth management sector. These firms invest with the expectation of substantial returns, which often fuels aggressive growth strategies, including acquisitions. Their involvement can provide the necessary resources for Captrust to execute large-scale integrations and expand its service offerings, ultimately aiming to build a more valuable and dominant player in the market.
For Stillwater’s clients, the transition to Captrust’s brand and platform is expected to bring enhanced benefits. Access to a wider range of specialized services, advanced technology for financial planning and reporting, and a broader network of advisors and expertise can lead to a more robust and personalized client experience. The assurance that their firm is joining a larger, financially stable entity also provides peace of mind.
The ongoing consolidation in the RIA space suggests that smaller firms may face increasing pressure to either scale up or align with larger players to remain competitive. Advisors who can effectively demonstrate their ability to adapt to evolving client needs, leverage technology, and offer a holistic approach to financial well-being are best positioned for success in this dynamic environment. Captrust’s acquisition of Stillwater Capital Advisors is a clear testament to this strategy, positioning both entities for continued growth and enhanced client service.
Dynamic Advisor Solutions Expands into South Carolina with Capasso Planning Partners Acquisition
Dynamic Advisor Solutions, a leading RIA platform and TAMP (Turnkey Asset Management Program) based in Phoenix, Arizona, has successfully expanded its footprint into South Carolina through the acquisition of Capasso Planning Partners, a Charleston-based RIA. This strategic move brings $260 million in assets under management (AUM) to Dynamic’s growing network, further solidifying its position as a key partner for independent financial advisors.
Capasso Planning Partners, founded in 2018 by Managing Partner Charlie Capasso, operates as a fee-only firm committed to providing comprehensive financial planning and wealth management services. Their client base includes individuals, families, and business owners, reflecting a client-centric approach that aligns with the values of many independent advisors. The firm’s dedication to a fiduciary standard ensures that clients’ best interests are always paramount in their financial recommendations.
The integration of Capasso Planning Partners into the Dynamic Advisor Solutions platform is expected to empower the Charleston-based firm with enhanced resources and capabilities. Charlie Capasso commented on the partnership, stating, "Partnering with Dynamic allows us to enhance the resources and capabilities available to our clients while continuing to operate with the independence and fiduciary focus that defines our firm." This statement underscores a common objective in such acquisitions: to gain the benefits of scale and technological advancement without compromising the core principles of client service and independence that have defined the acquired firm.
This acquisition marks a significant step for Dynamic Advisor Solutions, growing its advisor network to 88 practices across the United States. Collectively, these practices now oversee more than $7 billion in AUM. This expansion into South Carolina represents a strategic move into a growing market, offering Dynamic a new base of operations and access to a potentially large pool of clients and referral opportunities. The TAMP model, which Dynamic specializes in, provides independent advisors with a streamlined way to manage client assets, access sophisticated investment strategies, and leverage back-office support, allowing them to focus more on client relationships and business development.
The fee-only model adopted by Capasso Planning Partners is increasingly popular among investors who seek transparency and a clear alignment of interests with their financial advisors. By joining Dynamic, Capasso can leverage a platform that supports and potentially enhances its fee-only structure, ensuring that its fiduciary commitment remains at the forefront of its operations.
The growth trajectory of Dynamic Advisor Solutions, marked by this expansion into South Carolina, suggests a robust strategy of partnering with high-quality RIAs. The firm’s ability to attract and integrate successful independent practices indicates a strong value proposition for advisors looking to enhance their service offerings and operational efficiency. As the wealth management industry continues to evolve, firms like Dynamic are playing a crucial role in providing the infrastructure and support that enable independent advisors to thrive.
Wells Fargo Advisors Financial Network Welcomes Twin Harbors Private Wealth, Consolidating Significant Assets
Wells Fargo Advisors Financial Network (FiNet), a key independent advisor channel within Wells Fargo Wealth & Investment Management, has announced the establishment of Twin Harbors Private Wealth, a new FiNet practice located in Melville, New York. This significant development sees two former Merrill Lynch teams coalesce under the FiNet banner, bringing with them an impressive $1.4 billion in client assets under management.
The newly formed Twin Harbors Private Wealth practice is comprised of six experienced private wealth advisors: Jeff Wang, Joseph Ilg, John Rizzo, Corey Streim, Kyle Napolitano, and Daniel Sporn. They are supported by a team of three additional professionals, ensuring comprehensive client service. This collective expertise and substantial asset base represent a significant addition to the FiNet network.
According to a Wells Fargo spokesperson, the advisors affiliated with FiNet with the explicit goal of "being their own business owners." This motivation points to a desire for greater autonomy, entrepreneurial freedom, and a more direct connection to the business operations and client relationships they manage. FiNet’s model, which offers a robust support structure while allowing advisors to operate their own independent practices, is particularly attractive to established teams seeking to control their destiny.
This move by Twin Harbors Private Wealth is the second instance this year of a billion-dollar-plus team affiliating with FiNet in Wells Fargo Wealth & Investment Management’s Long Island Market. The market is led by Market Leader Issy Holzschuh, who has been instrumental in attracting significant talent to the platform. Earlier in January, Infinity Private Wealth, a team managing $1.8 billion in assets, also affiliated with FiNet. These high-profile additions underscore FiNet’s increasing appeal to elite advisors and teams seeking to leverage Wells Fargo’s brand and resources while maintaining independence.
The strategic importance of these affiliations for Wells Fargo cannot be overstated. The firm is actively working to enhance its RIA custody platform, with plans to launch a newly designed, fee-only RIA custody platform in the latter half of 2026. This initiative, according to executive interviews, is intended to be seeded by a select group of its FiNet firms. This forward-looking strategy indicates a commitment to building out a competitive and attractive offering for the independent advisor channel, positioning Wells Fargo to capture a larger share of the growing RIA market.
The affiliation of Twin Harbors Private Wealth and Infinity Private Wealth signifies a successful recruitment strategy for FiNet in the competitive New York market. The ability to attract teams that have previously operated within established wirehouse structures, such as Merrill Lynch, demonstrates FiNet’s growing credibility and its capacity to offer a compelling alternative. For advisors, the transition to an independent model, supported by a major financial institution, can offer a balance of entrepreneurial spirit and the stability and resources of a large, well-capitalized firm. The continued influx of substantial asset pools into FiNet suggests that this strategy is resonating with advisors looking for a partner that understands their needs and aspirations.
Du Lac Wealth Services Transitions to Osaic, Bringing $200 Million in Client Assets
Osaic, a prominent independent broker-dealer, has announced the addition of Du Lac Wealth Services to its network. The Cary, North Carolina-based advisory team, formerly affiliated with LPL Financial, has transitioned to Osaic, bringing approximately $200 million in client assets. This move signifies Osaic’s ongoing success in attracting established advisory practices and further expanding its national reach.
Du Lac Wealth Services is led by Managing Director James Mertens, alongside Wealth Advisors Garrett Railsback and Kerry Goodman, and Client Experience Manager Jaunté Smith. The firm’s strategic approach includes an internal acquisition model, focusing on integrating clients from retiring advisors. This forward-thinking strategy not only ensures continuity for clients but also provides a pathway for Du Lac Wealth to expand its client base and AUM.
James Mertens expressed his enthusiasm for the move to Osaic, stating that the transition will provide Du Lac Wealth with the necessary resources to "level the M&A playing field" and simultaneously enhance the firm’s day-to-day client experience. This sentiment suggests that Osaic’s platform offers advanced tools, support, and potentially financial backing that can empower Du Lac Wealth to execute its acquisition strategy more effectively. The ability to compete in the M&A space is crucial for growth-oriented advisory firms, and Osaic’s backing can provide a significant advantage.
The transition from LPL Financial to Osaic is part of a broader trend of advisors seeking platforms that best align with their business objectives and client service models. Osaic, owned by Reverence Capital Partners, has recently undergone a substantial $2.2 billion recapitalization, with new investor Bain Capital also coming on board. This infusion of capital signals Osaic’s commitment to growth and its ability to invest in its platform and advisor network.
A spokesperson for Osaic noted that Du Lac Wealth Services is the sixth LPL-affiliated advisory team to move to Osaic this year. This statistic highlights Osaic’s growing appeal to advisors moving from one of the industry’s largest independent broker-dealers. The firm’s ability to consistently attract these transitions suggests a compelling value proposition that includes competitive payouts, robust technology, strong compliance support, and a culture that resonates with independent advisors.
For Osaic, the addition of Du Lac Wealth Services represents a strategic expansion into the North Carolina market, a region with a growing population and a significant concentration of wealth. The firm’s focus on the acquisition model also aligns with Osaic’s broader strategy of supporting growth-oriented advisors. By providing the necessary infrastructure and resources, Osaic empowers firms like Du Lac Wealth to execute their growth plans and deliver enhanced value to their clients. The recapitalization by Reverence Capital Partners and Bain Capital is expected to further fuel Osaic’s expansion and its ability to support more advisor transitions and acquisitions in the future. The continued movement of advisors from LPL to Osaic suggests that the latter is establishing itself as a strong contender in the independent broker-dealer space, attracting talent through its combination of financial strength, strategic focus, and advisor-centric support.
