What You Need to Know
- Pacific Investment Consultants manages more than $700 million in assets from about 600 clients.
- This is the second Northern California firm that Captrust has announced acquiring in the past two months.
- PIC is transitioning to the Captrust name and brand.
Captrust Financial Advisors has continued its westward expansion by acquiring the assets of Folsom, California-based Pacific Investment Consultants (PIC), an independent RIA that had been part of Wells Fargo Advisors Financial Network.
PIC manages more than $700 million in assets from about 600 clients. It is the second Northern California firm that Captrust has announced acquiring in the past two months, following Genovese Burford & Brothers Wealth & Retirement Plan Management of Sacramento, California, in February, Captrust said Thursday.
The addition of PIC also follows Captrust’s announced acquisition of Phoenix, Arizona-based MRA Associates in January.
PIC provides wealth management and retirement planning, and is led by financial advisors and principals Christeen Reeg, Scott Gordon, Bill Altavilla, Debbie Hightower and Ryan Jantzen, who will join Captrust as principals as part of the deal. The entire PIC team, including four additional team members, will join Captrust also. Financial terms of the deal, which closed Feb. 26, weren’t disclosed.