Captrust acquires Warren competitor with $107B assets under advisement

Raleigh, North Carolina-based retirement plan specialist Captrust Financial Advisors said it has completed its acquisition of Warren-based Portfolio Evaluations Inc., which works with $107 billion in assets under advisement.

PEI helps direct, advise and educate fiduciaries of institutional investment programs, including retirement plans and family office groups. It opened its doors in 1992 and is led by co-founders and partners Attila Toth, Michael Sasso and Rich Torbinski.

This deal closed in late 2021, making PEI the 54th firm to join Captrust since 2006 and the ninth announced for 2021. Consistent with previous firms that have joined Captrust, PEI will take on the Captrust brand moving forward.

“At PEI, the cornerstones of our success have been our independence, fiduciary process and our focus on serving our clients. Captrust aligns well with these core values and will allow us to continue our remarkable track record of growth,” Toth said.

“Over the last 30 years, we have built a reputation based on trust and unmatched client service. Joining forces with Captrust will allow us to build out this solid foundation with additional services like participant advice and expands our expertise in areas like alternatives and nonqualified benefits,” Sasso said.

“We’ve admired PEI for years and they’ve been a formidable competitor. We are excited for this next chapter and believe coming together as two powerhouses in the independent advisory industry will only serve to make us all stronger,” said Rick Shoff, managing director of Captrust’s Advisor Group.

PEI is the third significant institutional-focused firm that Captrust added in the last year. Previously, Captrust announced the addition of $154 billion AUA Cammack Retirement Group in February 2021 and $85 billion AUA Ellwood Associates in August 2021.