Caprock adds $4bn in assets with Venturi Private Wealth buy

Caprock has acquired Venturi Private Wealth, an autarkic wealthiness absorption steadfast based successful Austin, Texas.

Venturi was established successful 2015 and serves entrepreneurs, firm executives and multigenerational families successful Austin and Oklahoma City.

The institution manages astir $4bn successful assets.

More recently, it has taken connected a wider scope of enactment for families whose requirements widen beyond concern management, including household governance, wealthiness education, precocious readying and CFO services.

The woody adds astir 30 employees to Caprock, among them 10 advisers.

It besides increases Caprock's beingness successful Austin and gives the steadfast an introduction into Oklahoma City.

After the transaction closes, Venturi's clients volition stay with their existent advisers and volition besides beryllium capable to usage Caprock's household bureau resources, and a wider concern offering, said the buyer.

Venturi co-founder and CEO Russ Norwood said: "Like Caprock, we've ever believed that wealthiness absorption is astir overmuch much than managing investments.

"As we considered the adjacent section for our firm, it was important to find a spouse that would fortify what we bash for our clients. Caprock brings broader concern capabilities, deeper household bureau resources and the standard to enactment clients arsenic their needs proceed to evolve, portion preserving the culture, independency and lawsuit absorption that person ever defined Venturi."

Once the woody is completed, Venturi volition follow the Caprock sanction and platform.

Norwood and Joey Sager, caput of Venturi's Oklahoma City office, volition instrumentality connected managing manager roles astatine Caprock.

The combined concern volition proceed to absorption connected ultra-high-net-worth families arsenic an independent, fee-only fiduciary firm.

Caprock co-CEO Bill Gilbert said: "At Caprock, maturation has ne'er been astir getting bigger for the involvement of getting bigger.

"We look for firms that enactment clients first, stock our values and marque the wide acquisition for our clients stronger. Venturi has built a talented squad and a beardown beingness successful important maturation markets for our firm. Our absorption is connected bringing the teams unneurotic thoughtfully and gathering connected those strengths."

"Caprock adds $4bn successful assets with Venturi Private Wealth buy" was primitively created and published by Private Banker International, a GlobalData owned brand.