Prime Capital Investment Advisors, an Overland Park, Kansas-based wealth management firm with 62 offices across the United States, said Thursday it acquired Cornerstone Comprehensive Wealth Management, a Nevada RIA with $400 million in assets.
The acquisition marks Prime Capital’s first location in Nevada.
Reno-based Cornerstone is led by president Christopher Abts. It has 10 employees, including four advisors.
Abts hosts a TV show, “Redefining Retirement,” and has written a book with the same title.
Park Sutton Advisor was Cornerstone’s financial advisor on the transaction.
South Carolina estate planning firm joins Osaic’s IBD network, citing succession planning tools and multigenerational growth resources.
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Retail banks and private wealth firms scored 40 in Fitch's AI stress test, signaling possible one-notch downgrade risk under an adverse scenario.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL.
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
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