New York, NY, December 8, 2021 – Park Sutton Advisors, LLC (“Park Sutton Advisors”) is pleased to have represented RINET Company, LLC (“RINET”) on its announced acquisition by CAPTRUST Financial Advisors (“CAPTRUST”), a leading registered investment adviser (“RIA”) headquartered in Raleigh, North Carolina with over $85 billion in assets under management and more than $660 billion in assets under advisement. Based in Boston, Massachusetts, RINET is an RIA with over $4 billion of assets under advisement that takes a family office approach to its HNW client base. Terms of the transaction were not disclosed.
Brian Rivotto, Managing Director and CEO of RINET comments, “When we started exploring the next phase for RINET, we were seeking alignment on three core principles that have been our bedrock for nearly 50 years…. It became clear very early on in the process that CAPTRUST not only shared these views but had developed a scale to provide a level of client service that is unmatched in the industry.”
“It has been our belief since we began acquiring firms in 2006 that there is a clear benefit to offering both wealth and institutional services within a single market. This has been one of our main drivers of deals for us and has helped us to accelerate our integration process when we are growing in markets where we already have a footprint,” said Rush Benton, Senior Director of Strategic Growth for CAPTRUST.
Steven Levitt, Managing Director and Founder of Park Sutton Advisors, who led the transaction said, “I have known RINET for over 10 years now – around the time they exited Boston Private. The Park Sutton team could not be happier to have assisted Brian, Gary, and Rebecca in their strategic partnership with CAPTRUST. RINET’s core expertise in family office and serving UHNW clients complements CAPTRUST’s competence in this area in a meaningful way.”