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View More Press Releases by CAPTRUST Financial Advisors

Press release:

CAPTRUST Completes Carve-Out of Plante Moran Financial Advisorsí $6.27 Billion AUA Retirement Plan Advisory Practice

Issued by: CAPTRUST Financial Advisors

Date: Sept. 10, 2020

CAPTRUST Surpasses $400 Billion in AUA

 

RALEIGH, NC and Southfield, MI – September 10, 2020 – CAPTRUST Financial Advisors (CAPTRUST) today announced that it has added the retirement plan advisory practice of Plante Moran Financial Advisors (PMFA), one of the nation’s largest independent registered investment advisors, 100 percent owned by Plante Moran, one of the nation’s largest certified public accounting, tax, wealth management, and consulting firms. With the addition of the PMFA retirement plan advisory team, CAPTRUST has surpassed $400 billion in assets under advisement (AUA).

The team from PMFA is led by Partners Dori Drayton and Susan Shoemaker, who will be joining CAPTRUST as senior vice presidents. Along with Drayton and Shoemaker, 11 additional team members will transition to CAPTRUST. Based in Grand Rapids and Southfield, Michigan, they advise on approximately 200 institutional clients and 240 retirement plans, representing more than $6.27 billion of institutional assets.

“Susan and Dori have built a phenomenal team; they made us better immediately and we believe they will benefit from the significant scale we have built in the retirement business at CAPTRUST,” said Rick Shoff, managing director of CAPTRUST’s Advisor Group. “Despite the volatile market conditions, CAPTRUST has continued on its growth trajectory which has been further bolstered by the four teams we have added this year.”

“It was clear from the beginning that CAPTRUST was the ideal partner to take our team into the next chapter,” said Drayton. “Our clients will immediately be able to tap into CAPTRUST’s participant advice capabilities, a deep research team, and world-class customer support technology. We look forward to introducing our plan sponsor clients to our new colleagues at CAPTRUST.”

“CAPTRUST shares our core belief that we must first and foremost act as a fiduciary and hold on equal footing the needs of our clients, colleagues and communities,” said Shoemaker. “We look forward to working with our new colleagues around the country as we become part of this culture and team that CAPTRUST has built.”

This is the 42nd team to join CAPTRUST since 2006 and the fourth this year. Consistent with previous deals, the retirement plan advisory team from PMFA will take on CAPTRUST branding. Plante Moran, through PMFA and affiliated entities, will retain its broader wealth management clients providing investment consulting, financial planning, trust, insurance consulting, estate planning, business succession, and tax planning services. P&M Corporate Finance (PMCF) served as exclusive financial advisor to PMFA.

View More Press Releases by CAPTRUST Financial Advisors


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