Captrust Financial Advisors today announced the addition of Reynolds Investment Management, based in Greenville, S.C.
Established in 1989, Reynolds provides wealth management services to individuals and families, business owners, medical professionals and retirees. The Reynolds team also offers investment advisory services to retirement plan sponsors, endowments and foundations.
The firm is led by Tom Reynolds and oversees more than $600 million in assets for several hundred clients. Eight new colleagues will be joining Captrust as part of the deal.
“As we continued to grow, we didn’t want to recreate the wheel,” Reynolds said in a statement. “We got to know the folks at Captrust and saw the robust systems in place, from technology and compliance to HR and marketing. We believe that joining Captrust will relieve us of many administrative functions to allow us to spend more time with our clients.”
Reynolds already had a close relationship with the former Nachman Norwood & Parrott Wealth Management, also based in Greenville, which joined Captrust last year.
“I’ve known a couple of the principals at NNP for many years,” said Reynolds, “and it was a natural fit to partner with the existing Greenville office, based on the similar clients we work with. We are excited to build a powerhouse here.”
“The team at [Reynolds] aligns with Captrust in many ways, and we look forward to growing our footprint in South Carolina,” said Rush Benton, Captrust’s senior director of strategic growth. “Tom and his colleagues are enthusiastic about the growth opportunity for their advisors, and we know joining Captrust will set them up for success.”
This is the 58th deal for Captrust since 2006 and its fourth in 2022. Last month, Benton told WealthManagement.com that he expects to see as many as six or seven more before the end of the year.
Consistent with other transactions, Reynolds will take on the Captrust brand and work alongside the team in Greenville, S.C.