SAN ANTONIO'S SOUTHERN WEALTH MANAGEMENT JOINS CAPTRUST

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Jul 12, 2023, 09:00 ET

Bolsters Firm's Presence in Texas and Louisiana

RALEIGH, N.C., July 12, 2023 /PRNewswire/ -- CAPTRUST Financial Advisors (CAPTRUST) announced today the addition of Southern Wealth Management (SWM). The firm is headquartered in San Antonio and has offices in Dallas and Midland, Texas, as well as New Orleans, Louisiana.

SWM manages more than $2.3 billion in assets and specializes in serving ultra-high-net-worth families with a robust suite of family office services. The team's philosophy focuses on helping families navigate the labyrinth of options available to them, develop sound strategies, and implement their financial plans in a manner that will stand the test of time. This approach goes beyond traditional investment portfolio design and management to encompass sophisticated financial and estate planning.

The firm will more than double CAPTRUST's existing tax practice, adding tax consulting and compliance expertise around income, estate, and gift taxes. SWM also offers business succession planning, including business valuation, life insurance portfolio design and management, and philanthropic planning and plan management.

SWM was founded in 2005 and is led by Managing Partner Dick Jones. He and 62 additional colleagues will join CAPTRUST.

"At SWM, we have enjoyed longstanding multigenerational relationships with families. In the same vein, we saw longevity and growth for our firm by joining CAPTRUST," said Jones. "Our team looks forward to expanding our network and resources for the benefit of our clients and for our people."

"The extensive offerings SWM brings in the family office space are a win for CAPTRUST. This is a niche we are excited to build on, and SWM's expertise will make that offering even more competitive," said Rush Benton, CAPTRUST's senior director of strategic growth.

The addition of SWM marks CAPTRUST's third deal in Texas this year, following Monroe Vos Consulting in Houston and Omega Wealth Partners in Fort Worth. CAPTRUST's presence will also grow in New Orleans, following the addition of Crescent Capital Consulting in late 2021.

This deal is CAPTRUST's fifth of 2023 and the 69th since 2006. Consistent with other transactions, SWM will take on the CAPTRUST brand. Advice Dynamics Partners LLC served as SWM's financial advisor in the transaction.

About CAPTRUST
CAPTRUST was founded in 1997 and registered CapFinancial Partners LLC as an independent registered investment advisor in 2003 in Raleigh, North Carolina. The firm provides investment management, financial planning, estate planning, and tax advisory and compliance services for individuals and families. The firm also offers a comprehensive suite of services for ultra-high-net-worth individuals to simplify their financial lives, mitigate risk, and perpetuate their legacies. For retirement plan sponsors, endowments, foundations, and religious entities, CAPTRUST offers investment advisory services, fiduciary support, plan design, provider analysis and fee benchmarking, and employee advice programs. With more than 1,300 employees across 75 locations nationwide, CAPTRUST oversees more than $714 billion in assets, including just over $598 billion in nondiscretionary assets under advisement and just under $116 billion in discretionary managed account assets (as of December 31, 2022).

SOURCE CAPTRUST Financial Advisors