Captrust Financial Advisors said it acquired Boston Financial Management, a registered investment advisor overseeing nearly $5 billion of client assets for approximately 1,100 clients.
The firms declined to disclose terms of the deal. Captrust provides equity stakes to RIAs it acquires, a practice that managing director Wilson Hoyle says fosters an ownership mentality among employees. “It’s a deal killer if they don’t want equity,” he says. “That’s because we love the alignment that creates.”
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