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.
The financial advice industry has been facing inquiries into its cash sweep programs for years now.
Investor money allegedly went to strip clubs, exotic cars, and landscaping
Procyon adds $415 million in assets under management in New Jersey while Savant picks up a $213 million Southern California planning firm
With a growing number of real estate-rich Baby Boomers aging into retirement, some advisors may be failing to consider all the options available for those clients' assets.
Cornerstone Advisors study reveals compliance bottlenecks stall campaigns weeks after customer opportunities close.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
