CAPTRUST Financial Advisors has announced the acquisition of Fort Worth, TX-based Omega Wealth Partners and its more than $710 million in assets under management.
Omega is co-owned by Tom Hardgrove, John Dickens and Tammy Bryant, who will join CAPTRUST along with six additional colleagues, according to the announcement. The wealth management firm provides holistic financial planning, retirement planning, and estate planning services for high-net-worth individuals and families.
“The wide array of resources we gain by joining CAPTRUST will give us an edge as we continue to provide a top-notch client experience," states Hardgrove. “We knew right away that becoming a part of CAPTRUST was a good decision—at our core, we both prioritize the relationship with each client.”
"With a long history as a family-owned business in Fort Worth, CAPTRUST's collaborative nature and colleagues' genuine support for each other's successes was one of the many reasons we knew they were the right fit," added Dickens. "We look forward to enhancing the customized and unbiased service we currently deliver to our clients by utilizing CAPTRUST's extensive marketing, investment, and research options."
The pick-up of Omega was CAPTRUST’s second deal in Texas this year. The firm has been expanding throughout Texas for over a decade, including recent additions Monroe Vos, Covenant, and South Texas Money Management. Consequently, CAPTRUST now has locations in seven cities within Texas (Austin, Boerne, Corpus Christi, Dallas, Fort Worth, Houston, and San Antonio), and its employee presence in Texas totals more than 120.
"We are excited to enter a new market in Fort Worth with Omega. As former professional athletes, Tom and John understand the collaborative nature that is crucial to CAPTRUST's success. We are looking forward to bringing Omega's expertise to the firm," notes Rush Benton, CAPTRUST's senior director of strategic growth.
This deal is CAPTRUST's fourth of 2023 and the 67th since 2006. Consistent with other transactions, Omega will take on the CAPTRUST brand. Park Sutton Advisors, a Waller Helms Company, served as Omega's financial advisor in the transaction.
With more than 1,300 employees across 75 locations nationwide, CAPTRUST oversees more than $714 billion in assets, including just over $598 billion in nondiscretionary assets under advisement and just under $116 billion in discretionary managed account assets (as of Dec. 31, 2022).
