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Caprock, a Boise, Idaho-based $16 billion multi-family office registered investment advisor, announced Tuesday that it had acquired Venturi Private Wealth, an Austin-based wealth manager with about $4 billion in ****** ets under management.
The transaction brings approximately 30 employees to Caprock, including 10 advisors, and expands the firm's footprint in Austin and Oklahoma City, where Venturi has a presence.
Founded in 2015, Venturi serves entrepreneurs, executives and multigenerational families through a fiduciary, planning-oriented approach.
The firm, which will now operate under the Caprock name, was owned by its employees, with co-founder and CEO Russ Norwood holding the largest stake of between 25% to 50%, according to its most recent Form ADV. The firm was custodied with Fidelity, according to that filing, which is also an option with Caprock, according to its filings.
Caprock, a Boise, Idaho-based $16 billion multi-family office registered investment advisor, announced Tuesday that it had acquired Venturi Private Wealth, an Austin-based wealth manager with about $4 billion in ****** ets under management.
The transaction brings approximately 30 employees to Caprock, including 10 advisors, and expands the firm's footprint in Austin and Oklahoma City, where Venturi has a presence.
Founded in 2015, Venturi serves entrepreneurs, executives and multigenerational families through a fiduciary, planning-oriented approach.
The firm, which will now operate under the Caprock name, was owned by its employees, with co-founder and CEO Russ Norwood holding the largest stake of between 25% to 50%, according to its most recent Form ADV. The firm was custodied with Fidelity, according to that filing, which is also an option with Caprock, according to its filings.
4 months ago
