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FUNDRAISING NEWS | November 14, 2024
Tags: RIA, Mergers / Acquisitions
CAPTRUST Financial Advisors announced the acquisition of Boston Financial Management (BFM), adding $5B in client assets and establishing new bases in Cape Cod, MA, and Portland, ME, to further strengthen its presence in the New England market.
BFM said it was seeking out a strategic partnership to fuel growth and Captrust's extensive distribution network and expertise in M&A and recruitment made it an ideal match. With the acquisition, CAPTRUST gains 45 new advisors, led by BFM President and CEO Louis Crosier. As a part of the transaction, BFM founder and Chairman Richard H. Morse will retire.
Boston Financial is among the largest firms that CAPTRUST has acquired and the sixth Massachusetts-based firm the company acquired over the last five years, the first being Boston Advisors in 2019. Berkshire Global Advisors served as BFM's financial advisor in the transaction.
Written By: Dakota
November 07, 2024
October 28, 2024
November 12, 2024
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