buinessmen with puzzle pieces

RIA Captrust Financial Advisors has acquired Boston Advisors’ Private Advisory Group, which includes 15 employees and about $1.5 billion in client assets under management.

Private Advisory President and CEO Michael J. Vogelzang and his team became employees of Captrust last week. Captrust works with about $340 billion of client assets, $17 billion of which are managed by its wealth-management business.

Captrust’s latest transaction comes less than two months after it bought South Texas Money Management — which has 60 Texas-based employees, six offices and $3.7 billion of client assets.

“We searched for the right strategic partner with three objectives: find the right cultural fit for our clients; provide a wider platform for our employees to grow professionally, and enhance our ability to grow in Boston and the New England region. Captrust hit all three perfectly,” according to Vogelzang, who also will assume a senior position in Captrust’s Consulting Research Group.

SEC records show Vogelzang started with Boston Advisors in 1997, moved to Advest in 2003 and then returned to Boston Advisors in 2006.

Founded in 1997, Captrust is an independent, employee-owned RIA based in Raleigh, North Carolina. It includes 234 advisors in 48 locations.

“Mike and the rest of the Boston Advisors’ Private Advisory Group are top-notch talent who will fit right in and contribute immediately,” said Captrust CEO J. Fielding Miller, in a statement.