Captrust Financial Advisors, a wealth management firm based in Raleigh, North Carolina, has acquired Salt Lake City-based Knox Capital Group. The Utah-based firm brings $300 million in client assets to the new owner.
Led by partners Brodie Barnes and Stanley Kimball, Knox Capital Group was founded in 2003 and specializes in high-net-worth individuals, business owners, companies and families. Knox also does planning and insurance funding for high-net-worth families and business owners. Knox Capital Group has 12 employees, including six financial advisors, all of whom will remain with the firm under the Captrust brand.
"Knox Capital Group was founded on the principles of strength, security, innovation, courage, hard work and integrity,” said Barnes. “Captrust shares these same values and will provide a great home for us. And our team of experienced advisors, including five CPAs, focused on ultra-affluent clients and exit planning is a perfect fit to round out Captrust’s wealth management offering.”
“When we look for firms to join our team, a mutual cultural fit is the most important identifier of a strong, long-term partnership,” said Captrust CEO J. Fielding Miller. “Brodie, Stan and the Knox team are an incredible group that exemplifies client-first service.”
This acquisition is the 28th completed since 2006 for Captrust and the firm’s first Utah office. Captrust now has 151 advisors in 36 locations and advises on more than $248 billion in client assets.