Prime Capital surpasses $20B in total AUM with acquisition

Prime Capital Investment Advisors, and Overland Park-based firm, has made two acquisitions that has provided a healthy boost to the company’s total assets under management (AUM).

In a combined deal worth $1.4 billion in AUM, Prime has acquired 20/20 Financial Advisors and Financial Network Ltd. For Prime, the buy now pushes the firm’s total AUM to over $20 billion.

“Over the past four years, we have more than quadrupled our assets under management and revenues,” Prime Capital CEO, Glenn Spencer, said in a news release. “More importantly, we have done this while maintaining a culture of excellence, camaraderie, innovation and growth orientation that is critical to having a healthy environment for clients and associates. 20/20 Financial Advisors and Financial Network Limited embody the qualities we covet as we continue to expand.

More than 1,500 clients and over 30 new professionals will move onboard to Prime Capital. With the closing of both deals, Prime Capital will provide wealth management services to over 10,000 households and 750 corporate retirement plans across the U.S.

“Both of these acquisitions bring strategic benefits to PCIA well beyond their assets under management,” Scott Colangelo, Chairman of Prime Capital, said in the release. “20/20 Financial Advisers brings tremendous financial planning expertise, a broad leadership team and geographic diversity while Financial Network Limited brings a balance of retirement plan expertise coupled with a tremendous wealth management practice. Every time we grow, we want to get better, and these two acquisitions make us better.”