Mike Wunderli, managing director and head of mergers and acquisitions at Captrust Financial Advisors.
Captrust Financial Advisors last week announced that Stillwater Capital Advisors has joined the firm.
Stillwater, an RIA based in Devon, Pennsylvania, provides investment management and wealth management services to individuals and small businesses, as well as endowments and foundations. The firm is led by co-founder Doug Swope, and has five additional employees and $1.25 billion in assets under management. Stillwater is now the fifth Captrust office in Pennsylvania.
With this addition, Captrust Financial Advisors, based in Raleigh, North Carolina, has around $320 billion of assets under management and about $900 billion of assets under advisement.
Mike Wunderli, managing director and head of mergers and acquisitions at Captrust, told ThinkAdvisor that the firm had known the Stillwater team for some time and had ongoing conversations around culture, client philosophy and long‑term vision.
"When the timing was right for both firms, it became clear that this was a strong strategic fit," he said.
Stillwater was appealing because of its client‑first culture, experienced leadership team and commitment to long‑term relationships, said Wunderli.
"They share our approach to advice, planning, and fiduciary responsibility and they bring local strength that complements our national platform," he said.
Pennsylvania is an attractive market because of its concentration of wealthy families, retirement plans and nonprofit organizations, Wunderli said. Those represent their three primary client profiles, he noted.
"Expanding in the state supports our broader goal of having each of our business lines represented in major U.S. markets, while continuing to build density in regions where we see long‑term growth potential," Wunderli said.
As with previous transactions, Stillwater Capital Advisors will adopt the Captrust Financial Advisors brand.
FP Transitions served as Stillwater's advisor in the transaction.
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