CAPTRUST Financial Advisors Gobbles Up Consulting Shop Ellwood Associates

Posted on 08/26/2021

CAPTRUST Financial Advisors (CAPTRUST) signed a deal to acquire Chicago-based Ellwood Associates. Ellwood is expected to add to CAPTRUST around 200 clients representing US$ 85 billion in assets. Ellwood serves endowments and foundations, retirement plans, hospitals, family offices, and high-net-worth individuals. A total of 55 Ellwood employees will be joining CAPTRUST, including a seasoned team of consultants with an average of 20 years of industry experience. In addition to a sizeable endowment and foundation practice, Ellwood will also bring added alternative investment expertise to the CAPTRUST investment team.

“When looking for the next step for Ellwood, we knew we wanted to be a part of a majority employee-owned firm to continue our own legacy of employee ownership,” said Timothy Egan, who will join CAPTRUST as a principal, in a press release.

The addition of the Ellwood team will also give CAPTRUST its first location in Chicago, as well as a bolstered presence in Denver. The firm added its first Denver location in 2020, when Shine Wealth Partners joined CAPTRUST. The transaction is expected to close in the fourth quarter of 2021. Ellwood will represent the 51st firm to join CAPTRUST since 2006. Consistent with other firms that have joined CAPTRUST, Ellwood will transition to the CAPTRUST name and brand after the close.

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