Chasing Scale Pushes Monroe Vos $5.8 Billion into Captrust’s Welcome Embrace

Captrust Financial Advisors has closed its first deal of 2023 with the acquisition of Monroe Vos Consulting, a $5.8 billion RIA based in Houston, Texas.

A deal that’s 64 Captrust’sth since 2006 he has been part of a team that dates back to 1988 at Prudential Securities. Monroe Vos became independent in 1994 and currently employs 17 people with a second office in Birmingham, Alabama.

According to Tim Vos, co-founder of the consulting firm with Jim Monroe, one of the driving forces behind the sale, which says a lot about the state of the RIA market today, was the desire for scale.

“Putting it all together, we realized we needed scale in today’s market and that kind of resilience to allow the firm to continue to grow,” Vos said. “And we also wanted everyone to become shareholders, and there is a path to share ownership in Captrust.”

According to a Captrust spokesman, the opportunity to own shares is available to all employees after three years with the firm.

Asked how a nearly $6 billion RIA might feel lagging behind in terms of scale, Vos said, “In today’s world, $6 billion is not really scale.”

“Being part of a larger organization gives you the opportunity to lower costs, gives you purchasing power and access to more research,” he added.

Monroe Vos fits into the overall Captrust model by providing advisory services to pension plan sponsors, endowments and foundations, as well as wealth management services to high net worth individuals and family offices.

“Founding Monroe Vos was to avoid conflicts of interest and put the customer first, and the combination of those values ​​led us to choose Captrust,” said Vos. “The culture and philosophy of Captrust is very similar to ours at Monroe Vos.”

Rick Schoff, managing director of the Captrust consulting group, called “cultural fit” a key element of the deal.

“We have known them for a long time,” he said. “We get a lot of talent from the Monroe Vos team. Tim and the entire firm bring their expertise to all three of our businesses. We look forward to joining forces in Texas, especially as we continue to expand in that market.”

Vos, 67, said the sale is not part of his succession plan.

“This is my hobby; I don’t plan to retire,” he said. “I’m 67 and I still have a long way to go.”

Captrust, founded in 1997 in Raleigh, North Carolina, has more than 1,300 employees in 75 US locations. The company manages over $125 billion in assets and over $775 billion in consulting assets.

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