CAPTRUST's Significant Expansion in New York: Welcoming Two New Firms

CAPTRUST Expands in New York

CAPTRUST Financial Advisors announced a strategic expansion in New York with the addition of two firms: Compass Advisors and Long Island Wealth Management (LIWM). This merger brings seven professionals and a combined $1.2 billion in assets under management to CAPTRUST, a notable boost to the company's existing operations in the region.

Understanding the New Partners

Compass Advisors

Founded in 2013, Compass Advisors, led by partners Michael Cuneo and Lauren King, has made significant strides in the institutional and wealth management markets. They’ve built a strong culture over the past decade, aiming for excellence in client service. Cuneo commented on their partnership with CAPTRUST, stating, "We have built an incredible firm and culture over the past decade at Compass. As the needs of our clients grow and become more complex, we decided to align with CAPTRUST..."

Long Island Wealth Management (LIWM)

Established in 2006 by Jeff Myers, LIWM shares a similar vision in maintaining strong client relationships through fiduciary advice. Myers expressed his enthusiasm about joining CAPTRUST, stating, "After 20 years as an independent advisor, I was looking for an organization that allows me to continue providing fiduciary advice..."

The Rationale Behind the Merge

Both firms have been working alongside each other since 2018 and view this expansion as a logical next step. The collaboration brings together their individual strengths while benefiting from CAPTRUST’s extensive resources and expertise. In maintaining the personalized, high-touch service that clients expect, they aim to provide an exceptional experience while navigating the challenges of today’s complex financial landscape.

CAPTRUST has established itself as a leader in providing independent, client-focused financial advice and wealth management. By integrating these two firms, the organization aims to enhance its capabilities further. Mike Wunderli, managing director and head of mergers and acquisitions at CAPTRUST, remarked, "As firms grow, maintaining the same level of personalized service while navigating increasing operational complexity becomes more challenging. Michael, Lauren, and Jeff have built practices grounded in independence and deep client relationships. We are proud to have them join CAPTRUST."

Existing Operations in New York

CAPTRUST already has an established presence in New York, with a location in Lake Success, employing 25 individuals, including 14 financial advisors. The integration of Compass Advisors and LIWM into the CAPTRUST brand reflects a commitment to serving their clients with enhanced operational support while preserving the boutique service model.

Looking Forward

As the financial advisory landscape continues to evolve, the addition of Compass Advisors and LIWM positions CAPTRUST to leverage the opportunities ahead. Their commitment to a client-centric approach, focusing on fiduciary responsibilities, bodes well for their clients as they manage an increasingly complex financial environment. With a strengthened team in New York, CAPTRUST will continue to provide high-quality financial planning and investment management services tailored to meet client needs effectively.

This expansion reflects not just CAPTRUST’s ambition to grow, but also its dedication to enhancing the financial wellbeing of its clients across the country. As the firm integrates its new partners, stakeholders and clients can expect a strengthened approach to wealth management and financial advisement, rooted in collaborative support and innovative solutions.