Caprock's Strategic Acquisition Boosts Wealth Management Capabilities with Venturi Private Wealth
Caprock, a prominent multi-family office and Registered Investment Advisor renowned for serving ultra-high-net-worth clients, has taken a significant step by acquiring Venturi Private Wealth. Based in Austin, Venturi is a reputable independent wealth management firm that manages around $4 billion in assets. This acquisition not only marks a strategic expansion for Caprock but also enhances its capabilities in providing comprehensive wealth management services.
Founded in 2015, Venturi has established a strong foothold in both Austin and Oklahoma City, focusing on serving entrepreneurs, executives, and multigenerational families. Venturi's approach to wealth management centers on a fiduciary and planning-oriented philosophy that prioritizes client relationships and tailored financial solutions. As client needs have evolved beyond traditional investment management, Venturi has diversified its offerings to include family governance, wealth education, and advanced financial planning services.
With this acquisition, Caprock will integrate approximately 30 new employees, including 10 seasoned advisors from Venturi, thereby enhancing its workforce and capabilities. The merger will see Venturi clients retain their existing advisors while gaining access to Caprock's extensive family office resources and a wider array of investment options. Greg Brown, Co-CEO of Caprock, emphasized the shared values and philosophies between the two firms: "Venturi has built an exceptional firm grounded in trust, thoughtful advice, and long-term client relationships. Together, we can provide an even more robust suite of services to our families."
Russ Norwood, Co-Founder and CEO of Venturi, expressed the necessity for finding a partner that aligns with their client-first culture while expanding their offered capabilities. He noted that their decision to partner with Caprock was based on the shared belief in a comprehensive approach to wealth management, which extends beyond mere investment returns.
Post-acquisition, Venturi will operate under the Caprock brand as part of a strategic move to consolidate strength and resources within one of the fastest-growing wealth management markets in the country. The transaction not only fortifies Caprock's presence in Texas but also underlines its commitment to serving ultra-high-net-worth families as an independent, fee-only fiduciary firm.
Bill Gilbert, Co-CEO of Caprock, reiterated that growth for the firm is focused on enhancing client experience rather than merely increasing size. The addition of Venturi's talented team markedly enhances Caprock's potential to address the diverse and evolving needs of their clientele. Both companies aim to streamline their operational integration thoughtfully to harness the full spectrum of strengths while delivering unparalleled support and resources to their clients.
Specific transaction terms were not disclosed, though Berkshire Global Advisors acted as the exclusive financial advisor to Venturi, while Caprock was advised legally by Stoel Rives LLP. This acquisition represents a transformative milestone for both firms and positions Caprock for sustained growth and service excellence in the wealth management sector. As the company moves forward, their focus will continue to be on offering elite service to families with complex wealth dynamics, fostering a culture of trust and client satisfaction.
In summary, Caprock's acquisition of Venturi Private Wealth not only expands its operational reach and service offering but also solidifies its reputation in the wealth management arena. By merging resources, expertise, and a shared philosophy, Caprock is poised to redefine the wealth management landscape for high-net-worth families.
Founded in 2015, Venturi has established a strong foothold in both Austin and Oklahoma City, focusing on serving entrepreneurs, executives, and multigenerational families. Venturi's approach to wealth management centers on a fiduciary and planning-oriented philosophy that prioritizes client relationships and tailored financial solutions. As client needs have evolved beyond traditional investment management, Venturi has diversified its offerings to include family governance, wealth education, and advanced financial planning services.
With this acquisition, Caprock will integrate approximately 30 new employees, including 10 seasoned advisors from Venturi, thereby enhancing its workforce and capabilities. The merger will see Venturi clients retain their existing advisors while gaining access to Caprock's extensive family office resources and a wider array of investment options. Greg Brown, Co-CEO of Caprock, emphasized the shared values and philosophies between the two firms: "Venturi has built an exceptional firm grounded in trust, thoughtful advice, and long-term client relationships. Together, we can provide an even more robust suite of services to our families."
Russ Norwood, Co-Founder and CEO of Venturi, expressed the necessity for finding a partner that aligns with their client-first culture while expanding their offered capabilities. He noted that their decision to partner with Caprock was based on the shared belief in a comprehensive approach to wealth management, which extends beyond mere investment returns.
Post-acquisition, Venturi will operate under the Caprock brand as part of a strategic move to consolidate strength and resources within one of the fastest-growing wealth management markets in the country. The transaction not only fortifies Caprock's presence in Texas but also underlines its commitment to serving ultra-high-net-worth families as an independent, fee-only fiduciary firm.
Bill Gilbert, Co-CEO of Caprock, reiterated that growth for the firm is focused on enhancing client experience rather than merely increasing size. The addition of Venturi's talented team markedly enhances Caprock's potential to address the diverse and evolving needs of their clientele. Both companies aim to streamline their operational integration thoughtfully to harness the full spectrum of strengths while delivering unparalleled support and resources to their clients.
Specific transaction terms were not disclosed, though Berkshire Global Advisors acted as the exclusive financial advisor to Venturi, while Caprock was advised legally by Stoel Rives LLP. This acquisition represents a transformative milestone for both firms and positions Caprock for sustained growth and service excellence in the wealth management sector. As the company moves forward, their focus will continue to be on offering elite service to families with complex wealth dynamics, fostering a culture of trust and client satisfaction.
In summary, Caprock's acquisition of Venturi Private Wealth not only expands its operational reach and service offering but also solidifies its reputation in the wealth management arena. By merging resources, expertise, and a shared philosophy, Caprock is poised to redefine the wealth management landscape for high-net-worth families.
Topics Financial Services & Investing）
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