RALEIGH, N.C., Nov. 3, 2023 /PRNewswire/ — CAPTRUST Financial Advisors (CAPTRUST) announced today the addition of The Normann Financial Group (Normann Financial). Normann Financial is based in Sanford, North Carolina, and oversees more than $1.3 billion in assets.
Normann Financial works with a wide variety of clients, from business owners and retirees to nonprofits and corporate retirement plans. The team believes in the benefits of comprehensive financial planning, including retirement and estate planning, lending solutions, and education planning. The firm was founded in 2015 by Kel Normann, who still leads the firm today. Nine additional colleagues will join CAPTRUST.
“As a longtime admirer of CAPTRUST, we know joining forces is the right move for the growth of our firm,” said Normann. “Our team looks forward to expanding in North Carolina and adding to the services available to our clients, from marketing to technology advances.”
“CAPTRUST has had a longstanding relationship with the folks at Normann Financial Group, and our values align—from the way we serve our clients to community involvement,” said Rush Benton, CAPTRUST’s senior director of strategic growth.
This deal expands CAPTRUST’s footprint across North Carolina, with nearby Raleigh headquarters and existing offices in Charlotte, Greensboro, and Wilmington. North Carolina has the largest CAPTRUST presence in the country, with more than 520 employees.
The addition of Normann Financial is CAPTRUST’s eighth deal announced in 2023 and the 71st since 2006. Consistent with other transactions, Normann Financial will take on the CAPTRUST brand.
CAPTRUST was founded in 1997 and registered CapFinancial Partners LLC as an independent registered investment advisor in 2003 in Raleigh, North Carolina. The firm provides investment management, financial planning, estate planning, and tax advisory and compliance services for individuals and families. The firm also offers a comprehensive suite of services for ultra-high-net-worth individuals to simplify their financial lives, mitigate risk, and perpetuate their legacies. For retirement plan sponsors, endowments, foundations, and religious entities, CAPTRUST offers investment advisory services, fiduciary support, plan design, provider analysis and fee benchmarking, and employee advice programs. With nearly 1,500 employees across 85 locations nationwide, CAPTRUST oversees more than $832 billion in assets, including just over $688 billion in nondiscretionary assets under advisement and just over $143 billion in discretionary managed account assets (as of June 30, 2023).
SOURCE CAPTRUST Financial Advisors