CAPTRUST Financial Advisors earlier this month acquired Alexandria, Virginia-based Campbell Wealth Management and TruNorth Wealth Partners in St. Paul, Minnesota, totaling close to $2 billion in assets.
Founded in 2003, Campbell is a financial and retirement planning-focused firm led by CEO Kelly Campbell. A total of 33 new colleagues from Campbell are joining CAPTRUST, along with $1.4 billion in assets.
“We believe that a financial plan is at the core of every client relationship. Joining CAPTRUST was a natural next step for our firm because it also believes in the importance of financial planning and is helping us to bring deeper resources to clients, including estate planning, more extensive tax planning, and family office services,” said Campbell in a statement.
TruNorth, founded in 2005 under the leadership of CEO Peter Rekstad and Travis Gleason, offers services including estate planning and multigenerational wealth planning, family education, and retirement planning for executives and professionals. TruNorth also serves institutions, including community and religious entities. With the firm’s addition, CAPTRUST brings in 10 talented colleagues and more than $570 million in assets.
“Over the years, I’ve had many ideas about additional services that would be really impactful for our clients’ financial lives but were just not feasible, given the size of our firm,” said Rekstad. “With CAPTRUST, we can provide family office services, access to tax planning and compliance, and more, all from trusted CAPTRUST colleagues who uphold our standards of service beyond expectation.”
Houlihan Lokey served as Campbell’s financial advisor in the transaction, while Advisor Growth Strategies served as TruNorth’s financial advisor.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
