What You Need to Know
- Chicago-based Ellwood's clients includes endowments, foundations, retirement plans, family offices and high-net-worth individuals.
Captrust Financial Advisors says it is buying Chicago-based Ellwood Associates, which works with about 200 clients with $85 billion in assets.
Ellwood’s client base includes endowments and foundations, retirement plans, hospitals, family offices and high-net-worth individuals. A total of 55 Ellwood employees are set to join Captrust.
The transaction should close in the fourth quarter of 2021 and represents Captrust’s 51st addition since 2006. The deal also gives the RIA its first location in Chicago, as well as a greater presence in Denver.
Captrust currently has about 900 employees, $60 billion in assets under management and roughly $600 billion in assets under advisement.