Captrust Financial Advisors has continued its acquisition spree with the purchase of California-based Genovese Burford & Brothers Wealth & Retirement Plan Management (GBB).

Financial details of the deal are unknown.

Founded by Mike Genovese and Lon Burford in 1987, GBB has 36 employees, including 17 financial advisers. The business manages $3.13bn in assets.

The firm, led by CEO Alex Brown and partner Kelly Brothers, bring in about 1,500 clients to Captrust.

Commenting on the deal, Genovese said: “Joining Captrust is the continuation of this vision as we plug into a network of more than 800 new colleagues and a wealth of centralised resources. The scale that Captrust has achieved, which allows us to leverage everything from technology and trading to compliance and marketing, is truly unmatched in the industry.”

Captrust senior director Rush Benton noted that GBB’s hybrid model of catering wealth and institutional services is only a part of what makes it a great fit for the company.

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Benton added: “The firm shares our growth mindset, and we are confident the GBB team will flourish as a part of Captrust.”

Recent deals by Captrust

Earlier this week, Captrust acquired Pittsburgh-based PWA Wealth Management (PWA) for an undisclosed sum.

The company recently purchased Phoenix-based MRA Associates, which oversees $3.29bn in assets.

Other recent acquisitions by the company include the retirement plan advisory practice of Plante Moran Financial Advisors, Lakeside Wealth Management, and Fountain Financial Associates, last year.

Founded in 1997, Captrust specialises in investment advisory, investment management, and planning services.