Press Release

CAPTRUST Adds Massachusetts-Based Patriot Pension Advisors

Issued by CAPTRUST Financial Advisors

Oct. 19, 2022

Raleigh, N.C. -- CAPTRUST Financial Advisors (CAPTRUST) today announced the addition of Patriot Pension Advisors (PPA) based in Foxborough, Massachusetts. Founded in 2002, PPA supports sponsors of retirement plans, including 401(k), 403(b), and defined benefit plans. The firm oversees more than $900 million in client assets and is led by Ted Burke, who will be joining CAPTRUST, along with his colleague Michelle Marchionni.

“When you get right down to it – we are retirement plan specialists,” said Burke. “And that’s why we decided to grow with CAPTRUST. If this is what you do—and you are looking for true retirement plan support—this is the best place to be.”

The addition of PPA further expands CAPTRUST’s footprint in Massachusetts. More than 50 colleagues from RINET and Cammack Retirement Group joined the firm last year. Boston Advisors joined in 2019.

“Overall, we needed more tools and resources for our plan sponsors and plan participants,” said Burke. “We are looking forward to enhanced fiduciary and investment training, plus greater access to marketing content to educate our clients.”

“We are excited to build out our institutional business in the Northeast with the addition of PPA,” says Rick Shoff, managing director of CAPTRUST’s Advisor Group. “Ted and Michelle bring decades of experience in this industry, and we look forward to helping their clients enhance their retirement planning experience.”

This is the 59th deal for CAPTRUST since 2006 and the third of 2022. Consistent with other transactions, Patriot will take on the CAPTRUST brand. MidCap Advisors served as PPA’s financial advisor in the transaction.

About CAPTRUST

CAPTRUST is an independent registered investment advisor founded in 1997 in Raleigh, North Carolina. The firm provides investment management, financial planning, estate planning, and tax advisory and compliance for individuals and families. For retirement plan sponsors, endowments, foundations, and religious entities, CAPTRUST offers investment advisory services, fiduciary support, plan design, provider analysis/fee benchmarking, and employee advice programs. With more than 1,100 employees across 70 locations nationwide, CAPTRUST oversees more than $100 billion in assets under management and more than $750 billion in assets under advisement (as of June 30, 2022).

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