North Carolina-based Captrust Financial Advisors has strengthened its presence in the US with the acquisition of two advisory firms, which have a combined $2bn in assets.

The newly acquired firms are McQueen, Ball & Associates, which is headquartered in Pennsylvania, and Ohio-based Cornerstone Capital Advisors.

Financial terms of the deals were not disclosed.

McQueen was set up by Jerry McQueen. The business oversees $1.3bn in assets.

Headed by Mario Giganti, Cornerstone manages $770m in assets.

Captrust founder and CEO Fielding Miller said, “McQueen, Ball & Associates and Cornerstone Capital Advisors bring growth-minded advisers and client rosters that will quickly reap the benefits of our network and scale. We are excited about the talent and expertise they bring to Captrust.

“Both of these firms are great examples of how we are adding wealth management services in key markets like Pennsylvania and Ohio where we already have established institutional advisers and clients.”

The latest deal continues Captrust’s acquisitive streak.

The firm’s recent acquisitions include North Carolina’s Morton Wealth Management, Virginia-based Catawba Capital Management, and Utah-based Knox Capital Group.

This April, Captrust added a $13bn team from FiduciaryVest. The team includes three FiduciaryVest partners Philly Jones, Evan Melcher, Zack Sadler, CIO Andy Marino and their support staff.

At present, Captrust manages over $300bn in assets. The firm’s adviser headcount is over 200.