Park Sutton announces 4th closed transaction of 2023, advising top Nevada RIA
New York, NY, March 9, 2023 – Park Sutton Advisors, a Waller Helms Company (“Park Sutton Advisors”) is pleased to have represented Cornerstone Comprehensive Wealth Management (“Cornerstone”) on its acquisition by Prime Capital Investment Advisors (“PCIA”), a leading registered investment adviser (“RIA”) with over $23 billion in assets under management and advisement (“AUM/A”) and headquartered in Overland Park, KS. With approximately $400 million in assets, Cornerstone is among the largest RIAs in Reno, NV, and brings decades of experience providing premium, high-touch client services to individuals & families.
Commenting on the transaction, Christopher Abts, President of Cornerstone, said, “Helping our clients to achieve their goals and dreams has always been at the core of everything we do. Partnering with PCIA will enhance our client service capabilities and expand our investment management solutions for our clients.”
Glenn Spencer, CEO of Prime Capital Investment Advisors, said, “Rather than measuring its success against other firms, Cornerstone does so based on the goals of its clients. We believe this is critical to providing top-tier client services and will, in turn, generate organic growth. I’m excited to expand into Nevada and welcome the team at Cornerstone to the PCIA family.”
Managing Director Dan Erichson, CFA of Park Sutton Advisors, who led the transaction, said, “Fast-growing, top-quality firms located in attractive markets continue to remain highly sought after even amidst rising interest rates and market uncertainty. The Cornerstone team is highly motivated, and partnering with a larger organization, that has great depth and breadth of capabilities, but also recognizes Cornerstone’s own unique marketing capabilities, allows for a formidable combination. We congratulate both sides and wish them all the best.”