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Financial Planning > UHNW Client Services > Family Office News

Captrust Expands in South by Adding $2B Family Office

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Captrust Financial Advisors has acquired Southern Wealth Management, a tax-focused advisory firm headquartered in San Antonio.

Southern Wealth Management manages more than $2.3 billion in client assets and specializes in family office services catered to ultra-high-net-worth clients. In addition to its headquarters, the firm also has a presence in Dallas and Midland, Texas, as well as in New Orleans.

A press release issued Wednesday by the firms notes that SWM represents Captrust’s sixth acquisition of 2023 and the 69th since 2006. Consistent with the expanding firm’s well-established aggregation model, SWM will take on the Captrust brand.

“The extensive offerings SWM brings in the family office space are a win for Captrust,” says Rush Benton, Captrust’s senior director of strategic growth, in the release. “This is a niche we are excited to build on, and SWM’s expertise will make that offering even more competitive.”

According to the release, the firm will more than double Captrust’s existing tax practice, adding tax consulting and compliance expertise around income, estate and gift taxes.

SWM also offers business succession planning, including business valuation, life insurance portfolio design and management, and philanthropic planning and plan management.

“The team’s philosophy focuses on helping families navigate the labyrinth of options available to them, develop sound strategies, and implement their financial plans in a manner that will stand the test of time,” the release states. “This approach goes beyond traditional investment portfolio design and management to encompass sophisticated financial and estate planning.”

SWM was founded in 2005 and is led by its managing partner, Dick Jones. He and 62 additional colleagues will join Captrust.

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