Prime Capital Investment Advisors, a rapidly growing registered investment advisory firm based in Overland Park, Kan., has struck a partnership with Boston-based private equity investor Abry Partners.
Abry is acquiring a minority equity interest in the firm and will have representation on PCIA’s board, while also providing additional capital for acquisitions. The investment signals the next phase of growth for PCIA, which was officially launched in early 2018, with $2.8 billion in assets, by a group of advisors who bought out the owner of their previous firm.
Following 15 rapid-fire acquisitions, active advisor recruitment and strong organic growth, PCIA now oversees $22.5 billion in client assets across 62 locations.
The additional capital provided by Abry will enable the firm to continue executing on its ambitious growth plans and build out its platform, according to PCIA CEO Glenn Spencer, with a focus on ultra-wealthy clients and large retirement plans.