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Financial Advisory  + Latest News  + RIAs & Financial Advisors  + Wealth Management  | 
PCIA Is Betting on Reno RIA Cornerstone, Adding $400M in Assets

Prime Capital Keeps Rolling, Acquires $575M RIA Firm Stonnington Group

Prime Capital Investment Advisors (PCIA) continues to press on the acquisition accelerator, adding an additional $575mn in assets in Southern California after buying Pasadena-based registered investment advisor (RIA) Stonnington Group.  

Since December, PCIA has announced five acquisitions nearing $4bn in assets, including the purchase of the $1.75bn RIA Liberty Wealth Advisors and the $185mn South Dakota-based RIA Professional Financial Services. 

Led by Nick Stonnington, President and Advisor, Stonnington Group serves high net-worth individuals and families. Stonnington is joined by four other employees, including one advisor. 

Citing company synergies and a similar working culture, Glenn Spencer, CEO of Prime Capital Investment Advisors, said, “Stonnington Group is a multigenerational firm that operates with a whole-team approach that aligns well with Prime Capital.” 

Park Sutton Advisors, A Waller Helms Company served as the exclusive financial advisor to Stonnington Group. 

Separately, PCIA has partnered with Earth Equity Advisors to expand its footprint in the sustainable, responsible and impact investing (SRI) space while adding $151mn in assets.

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Inside The Story

Prime Capital Investment Advisors

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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