CAPTRUST Advisors is taking a 49 percent stake in Pensionmark Retirement Group, a Santa Barbara-based defined contribution specialist with about $10 billion in assets under management.
Based in Raleigh, North Carolina, CAPTRUST has grown into one of nation's most formidable advisors to plan sponsors. Its latest deal is expected to be finalized in the second quarter, according to John Curry, senior director of marketing with CAPTRUST.
"We really like the affiliate-model of the Pensionmark business because we think it compliments what we do," said Curry. "We weren't looking to disrupt what they've proven to be good at."
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