Captrust Financial Advisors, the Raleigh, NC-based registered investment advisor since recently exceeded $1 trillion in total client assetshas acquired Wealth Covenant Group, a Houston-based firm with three employees and $300 million in client assets.

With this addition, Captrust now has 12 offices and 188 employees in Texas.

Wealth Covenant Group, led by President Dennis Stavinoha, joined Captrust in December, taking on the RIA brand. Stavinoha founded the RIA in 2018, focusing on a select group of families and business owners. Prior to that, he spent 17 years with LPL Financial.

This follows two agreements Captrust announced in Decemberincluding Campbell Wealth Management, an Alexandria, Va.-based RIA with 33 employees and $1.4 billion in assets, and TruNorth Wealth Partners, a St. Louis-based RIA. Paul, Minn. with approximately $570 million in client assets and 10 employees.

Captrust, founded in 1997, initially grew by serving institutional clients such as retirement plans. However, the firm found that retirement plan participants were natural clients of the wealth management business. Captrust now serves 3,000 retirement plans nationwide.

Last summer, Captrust announced that it had surpassed $1 trillion in total assets under management and advice, a major milestone for the independent RIA channel.

Captrust began an aggressive acquisition strategy in 2006 and since then it has completed about 74 deals. Three years ago, the firm announced that it sold one 25% of the shares for private equity firm GTCR – based on a $1.25 billion valuation. last fall, Captrust sold a minority stake at Carlyle.