Park Sutton Advises $600m Louisiana-Based Wealth Manager
New York, NY, July 5, 2022– Park Sutton Advisors LLC (“PSA”) is pleased to have represented Burns Estate Planning and Wealth Advisors (“Burns”) on its acquisition by Prime Capital Investment Advisors (“PCIA”), a leading registered investment adviser (“RIA”) headquartered in Overland Park, Kansas with over $20 billion in assets under management and advisement (“AUM/A”). Headquartered in Hammond, Louisiana, Burns is an independent RIA with 8 locations across Louisiana and Florida. Burns manages approximately $600 million in assets and brings client-focused talent and community engagement experience to PCIA. Terms of the transaction were not disclosed.
Ernie Burns, founder of Burns, said in regard to the transaction, “We’re a goal-oriented business. Our goal is to help our clients leave a legacy for their loved ones. This is why we are thrilled to join the PCIA team. Joining the team only strengthens the investment in our clients and their successful financial futures.”
“We are thrilled that Ernie Burns and his entire team are going to be part of the Prime Capital Investment Advisors organization,” said Glenn Spencer, CEO of PCIA. “Ernie and his team have built an extraordinary business, evidenced by a compound annual growth rate exceeding 30 percent.”
Dan Erichson, CFA, the Park Sutton Advisors Managing Director, who led the transaction, said, “Ernie has a unique marketing prowess that was very attractive to groups evaluating his business. The Burns team is extremely motivated, and this expertise will be highly-additive to PCIA’s own very fast-growing business. We look forward to seeing what these two teams can do together. Park Sutton Advisors just closed another deal too with PCIA last week.”