By Kenneth Corbin

Prime Capital Financial is acquiring SineCera Capital, a registered investment advisory firm based in Austin, Texas, that specializes in providing high-touch service to ultrahigh-net-worth clients.

Alongside the acquisition, Prime Capital is launching a dedicated family office unit to expand the services it can provide to its wealthiest clients.

"SineCera will be the key to expanding our family office offering," says Prime Capital CEO Glenn Spencer. "Their mastery of the UHNW space and commitment to personalized service perfectly align with our mission."

The new unit will be called, simply, Prime Capital Family Office, and will be helmed by SineCera founder Kevin Kaylakie, who will serve as president.

The deal is scheduled to close March 5. Last month, Prime announced the acquisition of Sugarloaf Wealth Management, an RIA with two offices in the Atlanta area that advises on nearly $1 billion of assets. That deal is also expected to close this month, according to the firm.

Prime Capital closed five deals in the fourth quarter of 2023, but then "strategically did no acquisitions for the first three quarters of 2024, focusing on the integration of those five teams," Spencer says. The SineCera and Sugarloaf deals mark the resumption of Prime Capital's measured M&A campaign -- Spencer says the firm aims to close two more transactions this year.

SineCera has discretion over $150 million of client assets but advises on its clients' total wealth of nearly $1.6 billion, according to Prime Capital.

Kaylakie started in the industry in 2006 with AXA Advisors before moving to Merrill Lynch and two other firms before founding SineCera in 2019, according to regulatory records.

Spencer says Prime Capital currently serves hundreds of high- and ultrahigh-net-worth clients and has identified hundreds more prospective clients in those wealth tiers that could be a good fit for the new family office service. Prime Capital manages more than $30 billion in client assets.

Kaylakie calls the move to join with Prime Capital a "transformative opportunity" for his firm and its clients.

"This partnership allows us to broaden our reach and enhance the tailored services we provide, while maintaining the high level of attention and discretion our clients expect," he says.

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

March 04, 2025 15:37 ET (20:37 GMT)

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