A Montgomery-based investment advisory firm has been acquired by a North Carolina firm.
Welch Hornsby Inc., with clients in more than 15 states, has been acquired by Captrust Financial Advisors. Terms of the deal were not disclosed. Raymond James & Associates acted as exclusive financial advisor to Welch Hornsby on the transaction.
Founded in 1988 by Chairman and CEO Edward V. Welch Jr., Welch Hornsby offers investment advisory services for high-net-worth individuals and families, endowments, foundations, corporate and municipal retirement plans, and other institutional clients. Welch Hornsby will take on the Captrust name and branding moving forward.
Welch will be joining Captrust, along with 14 financial advisors and research professionals and 12 operational staff. With offices in Montgomery and Birmingham along with Charlotte, the addition strengthens Captrust’s position in Alabama, where it already has an office serving 34 retirement plan sponsors representing $4.3 billion of client assets, as of yearend 2019.
“We believe that Captrust is the ideal partner for us,” Welch said. “Our cultural alignment, mutual dedication to our clients, and respective local communities—along with our ability to tap into a network of robust resources at Captrust—lays a foundation for the firm’s growth for the next generation of clients and employees.”
