Prime Capital Gains Foothold in Atlanta with $1B RIAPrime Capital Gains Foothold in Atlanta with $1B RIA
The RIA’s first deal of the year grows its Southeast presence.
Prime Capital Financial, an Overland Park, Kan.-based registered investment advisor with $33 billion in assets, has made its first acquisition of the year, a $1 billion RIA in Georgia.
Prime Capital, which rebranded last year, has brought on full-service RIA Sugarloaf Wealth Management’s offices in Duluth and Athens, Ga., marking its first foray into the state. The RIA will keep its name for the first 12 months and then transition to the Prime Capital Wealth brand.
The deal is Prime Capital’s first in the Atlanta metro area. It adds $1 billion in assets under management and advisement and 13 team members, including principals Jason Connolly, Taylor Manry and Adam Wilson.
Sugarloaf, founded in 1989, works in financial planning, investment management, risk management, retirement and tax strategies, insurance planning, and charitable giving. As of its latest Form ADV filing in August 2024, the firm used custodian National Financial Services, a Fidelity Investments broker/dealer, and requires a minimum account size of $500,000.
Connolly said in a statement that Sugarloaf decided to join Prime Capital “to build on the foundation we’ve spent decades creating while gaining access to enhanced resources and support.”
The transaction, expected to close in early March, was advised by Houlihan Lokey.
Prime Capital has grown to more than $33 billion in assets under management and, with the addition of Georgia, will have offices in 30 states, according to its website.
The RIA closed five deals in the last quarter of 2023 and focused on integrating those teams in 2024. Prime Capital will announce another acquisition in February and has a goal of adding one or two additional firms in 2025.
