Prime Capital Investment Advisors, an Overland Park, Kansas-based wealth management firm with 51 offices across the United States, has acquired Stonnington Group, an investment advisor in Pasadena, California, that manages $575 million in assets.
The transaction closed Tuesday; the terms were not disclosed.
Stonnington has 275 clients and is led by Nick Stonnington, who serves as president and advisor. Four other employees, including one other advisor, will be joining Prime Capital.
Park Sutton Advisors advised Stonnington Group on the transaction.
Some in the industry say that more UBS financial advisors this year will be heading for the exits.
The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
Raymond James also lured another ex-Edward Jones advisor in South Carolina, while LPL welcomed a mother-and-son team from Edward Jones and Thrivent.
MyVest and Vestmark have also unveiled strategic partnerships aimed at helping advisors and RIAs bring personalization to more clients.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
