North Carolina-based investment advisory firm CAPTRUST has acquired CapTrust Advisors, a Florida-based firm with $19bn in assets.

The financial terms of the deal were not disclosed.  The two firms operate as separate entities but have similar names owing to their former affiliation with the larger CapTrust organisation.

The merged entity will have 34 offices across the US, over $243bn in assets, and 138 advisers. It will operate under the CAPTRUST name.

CAPTRUST CEO and co-founder J. Fielding Miller said: “Given our relationship with them over the last 19 years, we understand the firm and its culture intimately, and we are excited for them to tap into the resources of the larger organization. This merger reflects the perfect alignment of values and our shared commitment to clients and colleagues.”

The latest deal is the sixth merger made by CAPTRUST this year and the 26th transaction made by the firm in the past decade.