CAPTRUST Expands in New York by Acquiring Compass Advisors and Long Island Wealth Management
CAPTRUST Financial Advisors has expanded its presence in New York through the acquisition of two affiliated firms, Compass Advisors and Long Island Wealth Management (LIWM). The combined entities bring $1.2 billion in assets under management and seven professionals to CAPTRUST's team. Compass Advisors was founded by Michael Cuneo and Lauren King in 2013, while LIWM was established by Jeff Myers in 2006. Both firms cited the need for greater operational scale as a key reason for joining forces with CAPTRUST, which they believe will allow them to maintain their client-focused approach without compromising on service quality. CAPTRUST's managing director Mike Wunderli emphasized that these acquisitions align with its strategy of supporting independent advisors while providing access to broader resources. The firms are expected to adopt the CAPTRUST brand as part of this integration.
Topics: financial advisors mergers and acquisitions wealth management