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Truist Advisory Services
Truist Advisory Services formed in 2016 as the registered investment adviser consolidating the legacy brokerage operations of BB&T Scott & Stringfellow...
Truist Advisory Services
Truist Advisory Services formed in 2016 as the registered investment adviser consolidating the legacy brokerage operations of BB&T Scott & Stringfellow and SunTrust Investment Services. The entity now operates under Truist Financial Corporation, the Charlotte-headquartered bank created in 2019. It advises a broad mix of individuals, high-net-worth families, corporations, and charitable organizations. The platform’s investment strategy is unusually wide for a bank-channel wealth manager. It targets buyout, growth equity, venture capital from early-stage seed through expansion and late-stage, distressed debt, mezzanine, secondaries, and special-situations strategies. Capital is deployed through multiple structures: direct co-investments alongside external GPs, conventional fund-of-funds commitments, and direct secondaries transactions. No single portfolio company, co-investor, or deal-level disclosure is publicly available. Staffing and professional headcount are not publicly disclosed. Truist Advisory Services is governed by the broader Truist Financial board and executive leadership team. The firm has not disclosed adjacent vehicles such as dedicated philanthropic foundations or member-club affiliations tied directly to the advisory business. A recent observable event is the continued integration of legacy BB&T and SunTrust wealth infrastructure following the 2019 merger, though no specific dated operational milestone was publicly reported in the last 24 months. Structurally, Truist Advisory Services’ differentiator is its channel: it funnels a multi-strategy alternatives platform through one of the largest US commercial bank branch networks, giving it distribution reach that pure-play investment firms rarely achieve. The mandate is not to run a single-family balance sheet but to package institutional-style alternative exposures for the mass-affluent and private-wealth segments of the bank’s client base.
General information
Firm type
Bank / Wealth / Trust
Year founded
2016
AUM
~$536M (Altss estimate)
Location
Region
North America
Country
United States
City
Richmond
Corporate office
Richmond, VA, United States
Sector focus
Frequently asked questions
How is Truist Advisory Services related to Truist Bank and the 2019 merger?
Truist Advisory Services is the registered investment adviser that houses the combined wealth and brokerage operations of legacy BB&T and SunTrust. Truist Financial Corporation was formed in December 2019 through the merger of those two banks. The advisory entity traces its origins to the 2016 consolidation of BB&T Scott & Stringfellow and SunTrust Investment Services under the new Truist brand.
Who runs investment decisions at Truist Advisory Services?
Truist Advisory Services operates under the governance of Truist Financial Corporation's executive leadership, but the firm does not publicly name a dedicated CIO or managing principal for its alternative investment platform. Decision-making is structurally tied to the broader bank's wealth-management division rather than a single named operator.
Does Truist Advisory Services run a single-family office, or is it a wealth-management platform?
It is a bank-affiliated wealth-management platform and registered investment adviser, not a family office. It channels alternative-investment strategies through Truist Bank's retail and private-wealth distribution network to individuals, families, corporations, and non-profits.
How does Truist Advisory Services deploy into alternatives—direct deals, funds, or fund-of-funds?
The firm deploys through a mix of direct co-investments alongside external general partners, traditional fund-of-funds commitments, and direct secondaries transactions. This multi-structure approach spans venture, growth, buyout, distressed, mezzanine, and special-situations strategies.
What investment stages and asset classes does Truist Advisory Services cover?
Coverage ranges from seed-stage venture capital through expansion and late-stage growth, and extends to buyout, distressed debt, mezzanine, secondaries, and special situations. The platform is generalist, with no single sector or stage exclusion publicly articulated beyond what the fund commitments dictate.
Has the firm publicly disclosed its current AUM, and what is the basis for the ~$536 million figure?
Truist Advisory Services has not published a specific AUM figure for its alternatives platform. The ~$536 million estimate is derived from Altss internal research and reflects an inference based on available advisory-asset and regulatory data.
Does the firm maintain any philanthropic structures, and how are they separated from the bank?
There are no publicly disclosed philanthropic vehicles or foundations managed directly by Truist Advisory Services. The broader Truist Financial Corporation operates community-benefit and charitable programs through its corporate arm, distinct from the advisory entity's investment mandate.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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