Captrust expands Nashville footprint with $2.3 billion deal

Captrust Financial Advisors has announced the acquisition of TrustCore Financial Services for its first deal in 2023. This marks the 63rd anniversary of Captrust.rd acquisition since 2006.

Based in Nashville, Tennessee, TrustCore has 48 employees and almost $2.3 billion under management and is led by partner and chief executive Gary Dean.

The deal will significantly expand Captrust’s presence in the Middle Tennessee region, where 75% of TrustCore’s customers are located.

Captrust, a Raleigh, North Carolina-based registered investment advisor specializing in retirement plans, first entered the Nashville market with the acquisition of New Market Wealth Management in 2021.

“TrustCore is an exciting addition to the Captrust family,” said Rush Benton, Captrust’s senior director of strategy development, in a statement.

“Gary and his team have many years of industry experience and we look forward to growing our business in the Nashville area through their experience in both wealth management and nonprofit services,” Benton added.

Dean called the deal “taking our business to the next level.”

“The growth opportunities with Captrust for our entire team are unmatched in the industry,” he added.

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