Company Details
With just $400 million in AUM, Feilidng Miller co-founded CAPTRUST in 1997. The No-Golf-Ball Rule became CAPTRUST’s cornerstone policy, reinforcing the firm’s commitment as fiduciaries for clients, ensuring no conflicts of interest arise when advising clients. In 2002, the firm introduced an equity ownership plan for all employees, giving every colleague a pathway to ownership that incentivizes long-term growth and quality of care. In 2017, CAPTRUST launches a new 10-year strategic plan with goals of growing in the top 35 metropolitan markets in the U.S. and investing $10 million in communities, among others. in 2020, GTCR, a leading private equity firm, makes a 25 percent minority growth investment in CAPTRUST, reflecting a valuation of $1.25 billion. And in 2023, Global investment firm Carlyle made a minority growth investment in CAPTRUST, valuing the firm at $3.7 billion.
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Acquisition Model
Max Cash: 80%
Max Equity: 50%
Standard terms are 60%-80% of consideration issued at closing with the remainder held in retention for 12 months.
Mandatory Points of Alignment
Partners will centralize all back operations to help advisors focus on client-facing activities.
Partners will have total autonomy over their calendars.
CAPTRUST keeps one P&L for the entire firm, but partners will have insight into their local revenue metrics and input in annual budgets.
CAPTRUST has a client experience that is highly encouraged, but it is not required.
This is a strength of CAPTRUST and they ask all partners to adopt.
Advisors can continue to manage their own strategies but must centralize trading.
Advisor Value Proposition
At CAPTRUST, partners can actively engage and train younger staff through various committees and programs. Key committees include the 70-person Culture Carries Committee, which promotes the CAPTRUST culture via events and meetings, as well as non-profit, party planning, and health committees that offer activities like Zumba and yoga. Other committees that require an invitation for participation are financial planning, family office, ERISA, tax, operations, investments, alternatives, and management. Training is vital at CAPTRUST and is supported by three programs. The CAPTRUST Advisor Academy (CAA) teaches new advisors basic skills like cold calling and prospecting, and integrates them into the company culture. The Mentorship Program matches advisors and team members nationwide, irrespective of age, title, or location. Finally, CAPTRUST University provides access to LinkedIn Learning for ongoing education on relevant topics.
CAPTRUST boasts a 20-person planning team available for advisors to leverage. This team assists with data entry, participates in meetings, shares best practices, and trains other team members on effectively using eMoney. Their aim is to enhance support for serving the end client without influencing the local client experience.
Offloading a partner's plate is a main goal of CAPTRUST. They will centralize all back office functions such as marketing, billing, HR, technology, compliance, and more.
In addition to financial planning and investment management, CAPTRUST offers tax advisory and prep (in-house), family office, risk management, corporate trustee services, estate planning, retirement plan advisory services, Endowment & Foundation Consulting and Investment Management (OCIO), and Participant Advisory Services (for retirement plan participants/executives). CAPTRUST has a 20-person tax team that conducted 4,000 tax returns in 2023. There is a fee to do tax prep; however, the advisor has the option to absorb that cost or pass it along to the client. Advisors also have the option of maintaining their current CPA relationships. Family office services include bill pay, a cyber security concierge, and a separate CIO. These services are reserved for clients with 20M+ in investable assets. For estate planning, CAPTRUST handles everything up to the drafting of documents then can refer advisors to a number of attorneys or the advisor can keep their existing relationship. CAPTRUST has 4 national trust partners for advisors to leverage.
CAPTRUST utilizes several methods to help drive leads for advisors. This includes both the Schwab Advisor Network and Fidelity’s Wealth Advisor Solutions referral programs. In addition to those programs, they also use SmartAsset and Zoe. CAPTRUST can also help advisors with any event. For example, their marketing team can execute on invites, securing a speaker, and everything in between.
CAPTRUST assists partners and advisors in defining staff roles and responsibilities for their local offices. Additionally, CAPTRUST helps partners with employee reviews and performance management, recommending a structured work week model to clarify who does what on which day. CAPTRUST also aids in identifying and implementing strategic growth initiatives. Quarterly meetings are conducted with advisors to share recent wins, market updates, tax law changes, and best practices. Furthermore, CAPTRUST organizes regional growth summits to facilitate discussions and networking within local regions.
AUM Growth
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