Captrust Adds $3B Ex-Truist Wealth Team in North Carolina

Captrust Financial Advisors has acquired a North Carolina-based wealth management firm that oversees about $3 billion in assets under management. 

Winston-Salem, NC-based The Hoge-Barrett Group, founded in 1999, is led by advisor Brett Hoge and provides financial planning and wealth management services for high-net-worth clients. 

The 13-person team was formerly affiliated with broker/dealer Truist Investment Services, a subsidiary of Truist Financial Corporation. 

The Hoge-Barrett Group will leverage Captrust’s broker/dealer, Capfinancial Securities, to gain access to ancillary brokerage services for wealth management and retirement plan clients. 

“We chose CAPTRUST because it gives us greater flexibility in how we serve clients, while adding a more in-depth technology stack, deeper investment research, and more wealth planning capabilities,” said Hoge. 

The Hoge-Barrett Group marks Captrust’s seventh transaction for the year, as well as its seventh office in North Carolina, which has over 580 employees, including 111 advisors.

Specific terms of the deal were not disclosed. 

Captrust’s latest addition comes after the firm acquired two registered investment advisory firms, New York-based Compass Advisors and Long Island Wealth Management, which collectively oversees about $1.2 billion in assets.

Captrust is majority owned by CEO and founder Fielding Miller and its employees, with minority investments from the Carlyle Group and GTCR. 

Captrust Financial Advisors oversees a total of more than $1.2 trillion in total assets for 146,777 accounts, according to its latest Form ADV updated on September 30. 

Pictured: Brett Hoge