Captrust Financial Advisors has acquired Pittsburgh-based PWA Wealth Management (PWA) for an undisclosed sum.

Founded in 2003, the PWA offers wealth management and financial planning services through its offices in Pittsburgh and Greensburg.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The company oversees $800m in assets for individuals, small business owners, and institutional clients.

Led by Founder and CEO Joe Scarpo, PWA team consists of 15 employees, including seven financial advisors.

Commenting on the deal, Scarpo said: “Our team at PWA Wealth Management has always worked to ensure we truly understand our clients and that we deliver financial advice that supports their short- and long-term goals.

“From our first meeting with Captrust we saw all of the synergies between our business model and theirs, and we cannot wait to leverage the firm’s deep resources and impressive scale to improve our service offering and bring greater growth opportunities for our clients and team members.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

As part of the deal, PWA will transition to the Captrust name and branding. It marks North Carolina-based Captrust’s first office in Western Pennsylvania.

Captrust strategic growth senior director Rush Benton said: “The team Joe has built out in Pittsburgh and the growth that it has been able to accomplish really stood out to us at Captrust.

“We are confident that the PWA team will fit perfectly into our business, and that these new team members will help expand Captrust’s presence in Pennsylvania—enabling us to serve more clients nationwide.”

Captrust has acquired a total of 45 firms since 2006.

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

It followed the company’s acquisition of the retirement plan advisory practice of Plante Moran Financial Advisors, Lakeside Wealth Management, and Fountain Financial Associates, last year.