Captrust Buys $1.6 Billion Lakeside Wealth Management
Captrust Financial Advisors, an independent registered investment advisor, has added Chesterton, Indiana-based Lakeside Wealth Management, a wealth management firm with $1.6 billion in assets under advisement and 27 employees.
Captrust Financial Advisors, an independent registered investment advisor, has acquired Chesterton, Indiana-based Lakeside Wealth Management, a wealth management firm with $1.6 billion in assets under advisement and 27 employees. Financial terms were not disclosed.
This latest addition increases Captrust’s nationwide headcount to more than 700 advisors with more than $390 billion in client assets under advisement and $45 billion in assets under management.
Lakeside provides retirement plan design, investment management, and participant education for institutions and financial planning, retirement goal setting, and legacy planning for wealth management clients. Founded in 2002 by chief executive officer Mark Chamberlain, the firm is also led by president Tim Rice and senior leaders Chip Mang and Timothy VerSchure, who will all be joining Captrust as principals.
This is Captrust’s forty-first transaction since 2006. The news follows last week’s announcement that Captrust received a 25 percent minority growth investment from Chicago-based private equity firm GTCR. The investment reflects a $1.25 billion valuation of Captrust.
Founded in 1997 in Raleigh, North Carolina, Captrust is an independent RIA that provides investment advisory, asset management, and planning services to affluent private clients and institutional investors.
