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.
With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.
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Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.
The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.
The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.
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