Prime Capital Acquires $575 Million Pasadena-Based Investment Advisor

Prime Capital Investment Advisors have acquired Pasadena-based  Stonnington Group, a registered investment advisor (RIA) firm which oversees $575 million in assets. 

“Stonnington Group, an RIA established in 2004 and serving high-net-worth individuals and families, will join PCIA’s network in Pasadena, California. Stonnington’s team of five is led by its president, Nick Stonnington, and brings 275 clients,” reported Financial Advisor.

The companies did not disclose the financial terms of the deal, which closed on Jan. 3. Park Sutton Advisors, A Waller Helms Company, served as the exclusive financial advisor to Stonnington Group on the transaction.

Prime Capital Investment Advisors chose the firm, which prioritizes active asset management, deliberate execution, and reliable results, because of its track record, a press release announcing the acquisition said. 

“Stonnington Group is a multigenerational firm that operates with a whole-team approach that aligns well with Prime Capital. We believe that success is a measure of all pieces of the engine working together,” Glenn Spencer, CEO of Prime Capital Investment Advisors, said. 

“Nick and his team have proven their ability to deliver great client service and grow their business. I’m excited to welcome the Stonnington Group to the PCIA family and expand in California,” he added. 

“As a firm, we have a long history of helping families realize and achieve their financial goals,” said President, Nick Stonnington. “The partnership with PCIA will open our collective team’s capabilities, expertise and deep resources to further benefit our clients here in Southern California as well as support other PCIA clients across the country.”

Prime Capital Investment Advisors provides a client-centric team approach to full-service financial planning, including fee-based asset management and wealth management through its Prime Capital Wealth Management brand. The firm also provides retirement plan advisory services, as well as plan participant education. 

PCIA completed 10 transactions last year, including acquiring all of the assets of Liberty Wealth Advisors. The firm enters the new year serving a total of 16,127 households across 56 locations with $23.2 billion under management, the company said.

PCIA currently has 51 locations throughout the United States, with investment advisor representatives serving clients across the nation.

To learn more about PCIA, visit: https://pciawealth.com/.

To learn more about  Stonnington Group visit: 

https://stonningtongroup.com/why-stonnington-group/