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Captrust Wraps Up Purchase of $107B Firm

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Captrust Financial Advisors says it has completed its acquisition of Portfolio Evaluations, which works with $107 billion in assets under advisement.

Based in Warren, New Jersey, PEI helps direct, advise and educate fiduciaries of institutional investment programs, including retirement plans and family office groups. It opened its doors in 1992 and is led by co-founders and partners Attila Toth, Michael Sasso and Rich Torbinski.

The Captrust-PEI deal closed in late 2021. PEI is the 54th firm to join Captrust since 2006 and the ninth last year. PEI also is the third large institutional-focused firm acquired by Raleigh, North Carolina-based Captrust in 2021; it added Cammack Retirement Group with $154 billion of assets and Ellwood Associates with $85 billion.

“We’ve admired PEI for years, and they’ve been a formidable competitor,” according to Rick Shoff, managing director of Captrust’s Advisor Group. “We are excited for this next chapter and believe coming together as two powerhouses in the independent advisory industry will only serve to make us all stronger.”

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As with previous transactions, PEI will now use the Captrust brand.

“Over the last 30 years, we have built a reputation based on trust and unmatched client service,” Sasso said in a statement. “Joining forces with CAPTRUST will allow us to build out this solid foundation with additional services like participant advice and expands our expertise in areas like alternatives and nonqualified benefits.”

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