Barron’s featured Prime Capital Investment Advisors announcement of two substantial acquisitions this week. The move adds more than $1 billion in assets through deals with a women-led advisory firm in San Antonio, Texas, and an estate-planning shop in the Southeast.
PCIA billed the acquisition of Crossvault in San Antonio as a continuation of its efforts to expand its ranks of women advisors. The firm cited research from McKinsey finding that women account for just 15% of financial advisors, and emphasized that expanding its own ranks of women advisors and leaders is a key priority.
With Burns Estate Planning and Wealth Advisors, Spencer lauded the firm’s “outstanding record relative to growth and marketing.”
“We know that we have to be growing to remain vibrant as an organization,” PCIA CEO Glenn Spencer said.