Truist Financial has lost a 13-person wealth management team managing more than $3 billion in client assets to the independent firm Captrust Financial Advisors, in a move reported on October 14, 2026 that marks at least the third billion-dollar practice to depart the bank's brokerage arm since July. The departure puts fresh pressure on questions about Truist's ability to retain high-value advisors and the client relationships they hold, and it turns attention to the Wealth segment figures in its coming earnings reports.
Key Facts of the Hoge-Barrett Group's Departure
The Hoge-Barrett Group, led by advisor Brett Hoge and based in Winston-Salem, North Carolina, registered with Captrust on October 9, according to registration records cited in trade press reports. The team of 13 includes six advisors, seven support staff and a portfolio manager, and it managed over $3 billion in client assets at the time of departure, according to the announcement. The group had operated within Truist Investment Services, a subsidiary of Truist Financial Corporation.
AdvisorHub reported that Hoge sold his North Carolina practice to Captrust after nearly two decades with Truist and its predecessor companies, having begun his career at Jefferson Pilot Securities in 1999 and moved through Wachovia Securities before joining BB&T's Scott & Stringfellow predecessor in 2008. Partner Alex Barrett joined the practice in 2014 after starting at Watermark Advisors. The Winston-Salem office becomes Captrust's seventh in North Carolina, where the firm has 111 advisors. Terms of the deal were not disclosed.
