RIA Caprock Makes 2nd Acquisition to Date with $4B Austin-Based Team

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Caprock, a Boise, Idaho-based $16 cardinal multi-family bureau registered concern advisor, announced Tuesday that it had acquired Venturi Private Wealth, an Austin-based wealthiness manager with astir $4 cardinal successful assets nether management.

The transaction brings astir 30 employees to Caprock, including 10 advisors, and expands the firm's footprint successful Austin and Oklahoma City, wherever Venturi has a presence.

Founded successful 2015, Venturi serves entrepreneurs, executives and multigenerational families done a fiduciary, planning-oriented approach.

The firm, which volition present run nether the Caprock name, was owned by its employees, with co-founder and CEO Russ Norwood holding the largest involvement of betwixt 25% to 50%, according to its astir caller Form ADV. The steadfast was custodied with Fidelity, according to that filing, which is besides an enactment with Caprock, according to its filings.

"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," Norwood said successful a statement.

The determination is lone Caprock's 2nd acquisition to date, and follows a woody for $2.2 cardinal Grey Street Capital successful 2024. Last year, Caprock hired Frank Giuliano from LPL Financial to caput its acquisition and recruiting.

Norwood and Joey Sager, who leads Venturi's Oklahoma City office, volition go managing directors astatine Caprock.