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Prime Capital adds $50M AUM with acquisition

Overland Park-based Prime Capital Investment Advisors has acquired Sphere Wealth Management, raising Prime’s $11.2 billion assets under management by $50 million. The transaction closed Thursday and further expands Prime’s wealth management and retirement services in Arkansas.

Prime Capital Investment Advisors (PCIA) closed on a deal Thursday bringing on Arkansas-based Sphere Wealth Management.

The transaction adds $50 million in assets under management (AUM) to Prime’s $11.2 billion in AUM. The deal has added more than 200 families and three news advisors to Prime.

With the buy, Prime continues its growth as a leading platform for wealth management and retirement plan-focused advisors – as well as being the premier service provider for wealth management and retirement plan clients – in Fayetteville.

Prime established its presence in Fayetteville in 2019 with the acquisition of Longer Financial, a 30-year-old business with a stellar reputation in the market.

Joining PCIA are Donald Paul, John Paul and Keith Lea, all Managing Partners with Sphere. “We are excited to be adding top advisory talent to our team in Fayetteville. We also look forward to providing Sphere clients with an even broader array of wealth services moving forward,” Eric Krause, Managing Director of PCIA’s business in Fayetteville, said.

“PCIA couldn’t be more enthusiastic about the Sphere team joining our already strong wealth management and retirement businesses in Fayetteville,” Glenn Spencer, Chief Executive Officer of PCIA, said. “The team’s reputation as a leader in financial services along with their drive for excellence in all aspects of their work is inspiring and is a valuable quality we strive to possess  throughout the firm.”