At a glance
- Prime Capital Financial has about 170 advisor-owners, and 95% of its $52 billion in assets is managed by advisors who hold equity in the firm.
- Spencer said he and a handful of advisors purchased what was then Lawing Financial from Kerry Lawing in 2017.
- Our reporting in August priced the AUM of Carlyle-backed MAI at about 5.5 cents per dollar after MAI acquired two planning-heavy RIAs.
Carlyle took a minority stake in Prime Capital Financial in August as part of a recapitalization, and the previous minority investor, Abry Partners, exited the investment.
Prime Capital Financial has about 170 advisor-owners, and 95% of its $52 billion in assets is managed by advisors who hold equity in the firm. The numbers come from an interview CEO Glenn Spencer and President Scott Duba gave to WealthManagement.com. The firm reports about 170 advisor-owners and 225 advisors; the two figures may not describe the same group.
Spencer said he and a handful of advisors purchased what was then Lawing Financial from Kerry Lawing in 2017. Prime Capital launched in January 2018 with about $2.5 billion in AUM. It now has $52 billion, about 30 acquisitions, and advisor headcount up from 40 to 225.
Our reporting in August priced the AUM of Carlyle-backed MAI at about 5.5 cents per dollar after MAI acquired two planning-heavy RIAs. At Prime Capital, Carlyle is a minority investor alongside owners who are still running the business.
Reported by the Succession & selling a firm desk from WealthManagement.com and Wealth Advisor Daily archive. Published . Corrections