Personal Finance/InvestmentCAPTRUST Adds $5.5 Billion Advisory Firm, Welch Hornsby

The Montgomery, AL-based company counts as the 40th group to join CAPTRUST since 2006
PRNewswire PRNewswireMarch 16, 20204 min

CAPTRUST Financial Advisors (CAPTRUST) today announced the addition of Montgomery, AL-based Welch Hornsby, Inc. Founded in 1988, Welch Hornsby offers investment advisory services focused on the needs of high-net-worth individuals and families, endowments, foundations, corporate and municipal retirement plans, and other institutional clients. The firm has clients in more than 15 states.

Welch Hornsby was founded more than 30 years ago and today is led by Co-Founder, Chairman and CEO Edward V. Welch, Jr. Welch will be joining CAPTRUST, along with 14 financial advisors and research professionals as well as 12 operational staff. With offices in Montgomery and Birmingham, AL, along with Charlotte, NC, the addition strengthens CAPTRUST’s position in the state of Alabama, where it already has an office serving 34 retirement plan sponsors representing $4.3 billion of client assets, as of yearend 2019.

“The Welch Hornsby team has built a remarkable firm that has prioritized doing what’s right for their clients above all else. This made them an ideal fit to join CAPTRUST,” said CAPTRUST Senior Director, Strategic Growth, Rush Benton. Fintech News

“At Welch Hornsby, our commitment to serving our clients and communities has fueled our growth for the last 30 years,” said Welch Hornsby Co-Founder, Chairman, and CEO, Edward V. Welch, Jr. “We believe that CAPTRUST is the ideal partner for us. Our cultural alignment, mutual dedication to our clients, and respective local communities—along with our ability to tap into a network of robust resources at CAPTRUST—lays a foundation for the firm’s growth for the next generation of clients and employees.”

Of Welch Hornsby’s $5.5 billion in assets under advisement (AUA), $1.75 billion are discretionary assets under management (AUM). Consistent with previous firms, Welch Hornsby will take on the CAPTRUST name and branding moving forward.

Since 2006, CAPTRUST has added 40 firms across the country to build out the RIA’s wealth management and institutional practices. With the addition of Welch Hornsby, CAPTRUST now oversees an estimated $370 billion in assets with its more than 675 employees.

“The combination of organic growth and the 40 notable teams who have joined our CAPTRUST family over the past 14 years has helped us to achieve remarkable business growth, increasing revenue 22% per year for the last 22 years,” continued Benton.

Raymond James & Associates acted as exclusive financial advisor to Welch Hornsby, Inc. on the transaction.

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