Prime Capital Investment Advisors Recapitalizes as Advisor Owned

PCIA believes its unique business model will continue to propel it forward

OVERLAND PARK, Kan.--(BUSINESS WIRE)--Prime Capital Investment Advisors (PCIA) announces that it has recapitalized, becoming a predominantly advisor-owned firm. On October 1^st, the company completed its offering welcoming 88 new advisors to join four founding advisors as owners. In total, advisors own over 65% of the equity in PCIA and the new equity-holders ownership represents a significant investment. Finally, ninety eight percent of advisors that were offered ownership accepted.

Since the firm’s launch as PCIA in 2017, the company has grown tremendously and has always had a goal to become an advisor-owned and led organization. PCIA believes that it is the only significant, national financial advisory firm to have broad advisor ownership. The leadership team knows that this unique business model, with complete alignment between investors and advisors, will prove beneficial to all its stakeholders (clients, advisors, employees, investors and other business partners).

Moving forward, PCIA will continue to incorporate broad equity ownership opportunities for its people. Every advisor will have a path towards ownership and equity will be a critical tool in advisor recruiting as well as acquisition discussions.

“We are proud to have built a firm where every advisor can earn ownership. We believe that PCIA is the only significant, national financial advisory firm to have broad ownership amongst our advisors,” says Glenn Spencer, Chief Executive Officer of PCIA. “By providing our advisors with meaningful equity, we are igniting a fire in them to think and act like owners. The level of commitment and the standards of excellence people set as owners is simply higher. We know that our new owners will push us to even greater heights as an organization,” added Mr. Spencer.

“In addition to the qualitative benefits of broad ownership, this is a terrific investment opportunity for our people,” said Scott Colangelo, Chairman of PCIA. “Since 2018, we have grown assets under management by nearly five-fold, our revenues have quadrupled, and our profitability is industry leading. The fact that 98% of our advisors accepted our offer of equity demonstrates their belief in the company they work for,” added Colangelo. “Unlike so many firms where there are one or two majority owners preaching culture, we have a special culture, with advisors who care deeply about their clients, within a firm where all our interests are truly aligned,” concluded Mr. Colangelo.

About Prime Capital Investment Advisors
Prime Capital Investment Advisors provides a client-centric team approach to full-service financial planning, including fee-based asset management and wealth management through its Prime Capital Wealth Management brand. Through its Qualified Plan Advisors brand, the firm also provides retirement plan advisory services, as well as plan participant education. PCIA currently has 27 locations throughout the United States, with investment advisor representatives serving clients across the nation. Advisory services offered through Prime Capital Investment Advisors, LLC. (“PCIA”), a Registered Investment Adviser. PCIA doing business as Qualified Plan Advisors (“QPA”) and Prime Capital Wealth Management (“PCWM”). For more information, visit www.pciawealth.com.