On July 8, 2021, Captrust Financial Advisors, LLC announced its acquisition of Nachman Norwood & Parrot Wealth Management.
Under the terms of the transaction, Captrust Financial Advisors, LLC (“Captrust”) has acquired Nachman Norwood & Parrot Wealth Management (“NNP”). NNP will transition to Captrust’s name and brand. The transaction closed in May. Further terms of the deal were not disclosed.
Captrust, based in Raleigh, North Carolina, is an independent registered investment advisor providing investment management, financial planning, estate planning, and tax advisory and compliance for individuals and families. As of June 1, 2021, Captrust had approximately $60 billion in assets under management and $600 billion in assets under advisement.
NNP, based in Greenville, South Carolina, provides financial planning and consulting services for high-net-worth individuals, endowments, foundations, and qualified plans. NNP has approximately $2.1 billion in assets under management.
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