On January 3, 2023, Prime Capital Investment Advisors announced that it acquired Stonnington Group.
Under the terms of the transaction, Prime Capital Investment Advisors (“PCIA”) acquired Stonnington Group (“Stonnington”). Financial terms were not disclosed. Nick Stonnington and four other employees will join PCIA.
PCIA based in Overland Park, Kansas, is a registered investment advisor that also does business as Prime Capital Wealth Management and Qualified Plan Advisors. PCIA offers wealth management, retirement plan consulting and financial wellness services. As of the third quarter of 2022, PCIA served more than 10,000 clients and had approximately $8 billion in assets under management.
Stonnington, based in Pasadena, California, is a registered investment advisor serving high-net-worth individuals and families. Stonnington has $575 million assets under management. Park Sutton exclusively advised Stonnington on the financial aspects of the transaction.
To read the press release: please click here.