Raleigh-based Captrust Financial Advisors announced Thursday it has acquired Brentwood-based TrustCore Financial Services.

Terms of the deal between the two investment advisement companies were not disclosed in a release.

Gary

Gary Dean

TrustCore is the second Captrust (stylized as “CAPTRUST”) deal involving a Nashville-area company, following the company’s acquisition of New Market Wealth Management in 2021.

Led by partner and CEO Gary Dean and based in Maryland Farms, TrustCore will operate via the Captrust branding. The company is home to 16 financial advisers and oversees nearly $2.3 billion in assets for individuals, families, endowments and foundations. More than 75 percent of TrustCore’s clients are located in the Middle Tennessee region.

The deal, the 63rd for Captrust since 2006, yields an addition of 48 employees for the North Carolina company.

“Joining CAPTRUST takes our business to the next level,” Dean said in the release. “The growth opportunity with CAPTRUST for our entire team is unmatched across the industry. We look forward to tapping into the valuable resources the firm has to offer to make our clients’ experience even better.”

Founded in 1997 in Raleigh and with more than 1,200 employees across 70 locations nationwide, Captrust oversaw more than $100 billion in assets under management and more than $750 billion in assets under advisement as of Sept. 30, 2022.