Captrust Financial Advisors has bought Lakeside Wealth Management, which has $1.6 billion in assets and 27 employees.
The news comes about a week after the private equity group GTCR took a 25% stake in Raleigh, North Carolina-based Captrust Financial Advisors, which was valued at about $1.25 billion.
The acquisition of the Chesterton, Indiana-based firm means Captrust now has some 700 employees, $390 billion in assets under advisement and $45 billion in assets under management.
“Lakeside Wealth Management is an ideal fit for Captrust — not only because of the alignment across their three lines of business, but also because they are a firm that prioritizes giving back to their community,” according to Rick Shoff, a managing director for Captrust’s Advisor Group.
Captrust has made 41 deals since 2006.