Captrust Expands in South by Adding $2B Family Office

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.