Prime Capital Monetary, an Overland Park, Kan.-based registered funding advisor with $33 billion in belongings, has made its first acquisition of the yr, a $1 billion RIA in Georgia.
Prime Capital, which rebranded final yr, has introduced on full-service RIA Sugarloaf Wealth Administration’s places of work in Duluth and Athens, Ga., marking its first foray into the state. The RIA will preserve its title for the primary 12 months after which transition to the Prime Capital Wealth model.
The deal is Prime Capital’s first within the Atlanta metro space. It provides $1 billion in belongings below administration and advisement and 13 group members, together with principals Jason Connolly, Taylor Manry and Adam Wilson.
Sugarloaf, based in 1989, works in monetary planning, funding administration, danger administration, retirement and tax methods, insurance coverage planning, and charitable giving. As of its newest Type ADV submitting in August 2024, the agency used custodian Nationwide Monetary Companies, a Constancy Investments dealer/seller, and requires a minimal account dimension of $500,000.
Connolly stated in a press release that Sugarloaf determined to hitch Prime Capital “to construct on the inspiration we’ve spent a long time creating whereas getting access to enhanced assets and assist.”
The transaction, anticipated to shut in early March, was suggested by Houlihan Lokey.
Prime Capital has grown to greater than $33 billion in belongings below administration and, with the addition of Georgia, can have places of work in 30 states, in keeping with its web site.
The RIA closed 5 offers within the final quarter of 2023 and centered on integrating these groups in 2024. Prime Capital will announce one other acquisition in February and has a aim of including one or two extra companies in 2025.