Captrust Acquires $2.4B Kansas City-based RIA

Core Insights - Captrust Financial Advisors has acquired Meritage Portfolio Management, expanding its assets under advisement to over $1 trillion and adding $2.4 billion in client assets from Meritage [1][2] Group 1: Acquisition Details - The acquisition increases Captrust's presence in Kansas City to two offices and adds 54 employees, including 17 from Meritage, nine of whom are advisors [2] - Meritage, founded in 1991, specializes in wealth management for high-net-worth individuals, retirement plans, and endowment and foundation investment management [2][3] Group 2: Strategic Implications - The acquisition provides Captrust with a broader network of resources and support, enhancing opportunities for clients and colleagues, as stated by Meritage's President Mark Eveans [3] - Captrust oversees more than $237 billion in discretionary assets and over $846 billion in nondiscretionary assets, with over 1,800 employees across more than 90 locations [4] Group 3: Market Position - Kansas City is identified as a key growth market for Captrust, with the acquisition of Meritage adding significant value due to its reputation for trusted client relationships [4] - Captrust previously expanded into the Midwest by acquiring Frontier Wealth Management in 2022, indicating a strategic focus on growth in this region [4] Group 4: Advisory Role - Houlihan Lokey served as the financial advisor for Meritage during this acquisition [5]