Company Details
Prime Capital Financial ("Prime Capital, Prime") is a national wealth management firm that prides itself on providing maximum support to its advisor partners while permitting a high degree of operational flexibility at the same time. This allows advisors to continue telling the story they've built locally with their team and clients, while leveraging the resources of their national partner to reduce/alleviate the operational functions of the practice. Prime is a "client-first" firm that wants to partner with entrepreneurial-minded wealth management firms who see Prime Capital's resources and capabilities as a leverage point for the local office. Prime's core business focuses in two major areas: 1) individual wealth management and 2) retirement plan clients.
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Acquisition Model
Max Cash: 90%
Max Equity: 40%
Retention terms are 5-20% held with a standard timeline of 12 months.
Mandatory Points of Alignment
Partners will centralize all back-office functions. This includes compliance, HR, billing, marketing, trading, and more. Prime is flexible and only mandates the use of Salesforce and Orion.
Partners have total control of their calendars.
P&L management is segregated per local office with a collaborative approach to making financial decisions.
Prime firmly believes that the client experience should be left in the hands of the advisor. They trust advisors to tailor and deliver a personalized client experience that aligns with their expertise and the unique needs of clients.
For firms seeking assistance in defining roles/responsibilities and help with managing processes and procedures at the local office, Prime Capital is happy to assist in implementing best practices gleaned from top performing offices around the country. However, they do not believe it is their role to dictate to partners how to operate. Prime will act as a "coach" to help bolster a potential partner’s best practices, however, Prime does not mandate implementation of such coaching.
Prime offers an investment platform for advisors to use, but the only requirement is to centralize trading. Prime's experience shows that advisors will want to fully adopt the platform once more familiar with the offerings.
Advisor Value Proposition
Prime Capital has designated advisory boards for each department to help partner advisors manage their team. Prime Capital emphasizes their role as a consultant to a selling firm and aims to remove burdensome operational activities and offer resources to help run an office efficiently. Prime capital will act as a "coach" to help bolster a selling firm's best practices, however, the firm does not mandate implementation of such coaching. Advisors serving both individual wealth management clients and retirement plan clients have access to practice management and advisory coaches within Prime Capital.
Prime Capital provides partners with centralized resources, which include a paraplanning team. These resources are available for advisors to use but are not mandated.
Prime Capital recognizes the importance of centralizing back-office functions to free up advisors' time for client-facing activities. Prime Capital offers an investment platform for advisors to use, but the only requirement is to centralize trading. Prime Capital will also centralize other back-office functions such as HR, payroll, billing, etc. to provide capacity back in the life of their partners.
Prime Capital offers specialized services in qualified plans, and trust and will services. Prime Capital has substantial assets, approximately $14B, and expertise in qualified plans. This serves as an organic growth channel for private wealth advisors, as clients transition from retirement plan services into comprehensive wealth management. Within the qualified plan (retirement plan) division, Prime Capital offers Participant Education, Fiduciary Services, Managed Accounts, and Income Guarantee Options alongside a process for plan participants to engage with an individual wealth advisor if they need further assistance. In addition to support with client-facing service offerings, Prime Capital extends support in centralizing back-office functions. They offer assistance in streamlining trading and monitoring processes through their experienced investment team.
Organic growth is a strength at Prime Capital and is a significant part of their value proposition to firms considering a partnership with them. Prime Capital distinguishes itself through its unique capability to drive organic growth for its partners, thanks to its robust business in the qualified plan/retirement planning arena. This provides a strong lead source of clients looking to increase the level of services. Prime Capital Investment Advisors has made significant investments in time and resources to enhance their technology innovation, foster organic growth, improve the client experience, and broaden their range of services and capabilities. Over time, Prime Capital has refined its client pipeline, seamlessly connecting the qualified plan division with the wealth management advisors. To support their partners, Prime Capital boasts an internal marketing team that collaborates closely with each partner to develop and implement traditional marketing strategies. These strategies encompass various channels, including COI (Centers of Influence) networking, event marketing, social media engagement, and direct mail campaigns. Additionally, Prime Capital leverages their existing client pipeline from qualified plans to supplement these marketing efforts.
Prime Capital has designated advisory boards for each department to help partner advisors manage their team. Prime Capital emphasizes their role as a consultant to a selling firm and aims to remove burdensome operational activities and offer resources to help run an office efficiently. Prime Capital will act as a "coach" to help bolster a selling firm's best practices, however, Prime Capital does not mandate implementation of such coaching. Advisors serving both individual wealth management clients and retirement plan clients have access to practice management and advisory coaches within Prime Capital.
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