Two registered investment advisors have rebranded this week. Prime Capital Investment Advisors, an Overland Park, Kan.-based RIA with more than $24 billion in assets under management, has become Prime Capital Financial to reflect the 25 acquisitions the firm has completed over the last seven years.
Separately, Pensionmark Financial Group, an advisory firm with $55 billion in assets under advisement across its institutional and wealth management segments, is now World Investment Advisors, a nod to Pensionmark’s parent company, World Insurance Associates, which acquired it in 2022.
Prime Capital said it hopes the new brand reflects the fact that the RIA is more than an investment advisory firm. Across three sub-brands, the firm also provides financial planning, financial wellness, retirement plan consulting, managed account services, tax planning, estate planning and risk management. The new sub-brands will include Prime Capital Wealth, Prime Capital Retirement and Prime Capital Wellness.
The brands of Qualified Plan Advisors and Prime Capital Wealth Management will be retired. The QPA brand has been around for 20 years and provides plan consulting, non-qualified plan advisory services, participant education services and financial wellness.
Pensionmark’s recent growth also played into its decision to rebrand. The firm’s wealth management division has grown from $1 billion to $11.5 billion in assets over the last two years. The firm hopes the new brand will help it attract top-performing wealth management practices.
World Insurance acquired Pensionmark in March 2022. Today, the firm has $55 billion in assets under advisement across its institutional and wealth management segments and 392 registered financial advisors. In the last two years, the wealth management division has grown its assets under management from $1 billion to $11.5 billion.
“Pensionmark has quietly but deliberately built itself into a full-service wealth management enterprise focused on serving fee-based advisors who support a sophisticated client base,” World Investment Advisors CEO Troy Hammond said in a statement. “Our advisors also benefit from the firm’s expertise in retirement plans, risk management and insurance solutions and from the significant, scalable and innovative resources made available through the fast-growing, well-resourced World organization.”
World is backed by private equity firm Charlesbank Capital Partners and Goldman Sachs Asset Management.
Several household names in the wealth management industry have rebranded over the last year, including Nitrogen (formerly Riskalyze), Osaic (formerly Advisor Group), Axtella (formerly Sigma Financial), Realta (formerly Coastal One) and Corient (CI Financial’s U.S. wealth business).
