Prime Capital Financial is launching a dedicated family office division by acquiring an Austin, Texas-based firm that oversees $1.55 billion in client assets.
Prime has acquired SineCera Capital, founded in 2019 by Keven Kaylakie, to establish its new Prime Capital Family Office, focused on ultra-high-net-worth families. The division will complement Prime’s wealth management, retirement plan advisement and financial wellness divisions.
Overland Park, Kans.-based Prime had been looking for about three years at either acquiring or building its own family office to work with the ultra-high-net-worth clients among its some 15,000 clients and meet what it believes will be a growing need from prospects, said CEO Glenn Spencer.
“We put out a lot of feelers and talked to a lot of firms,” he said. “The challenge was that the ones we looked at up until now had their business model built and were kind of rigid around it; we needed something that would fit within our advisor structure and culture.”
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