OVERLAND PARK, Kan. & MILFORD, Conn.--(BUSINESS WIRE)--Prime Capital Investment Advisors (PCIA) has announced its continued strategic expansion on the East Coast with its impending acquisition of Financial Network Limited (FNL). Based in Milford, Connecticut, FNL manages $325 million in assets. They provide clients with personalized investment strategies and have a distinct expertise in managing corporate retirement plans.
FNL was founded in 1993 by Michael Del Re, Jr. with the goal of providing tailored and unique services to their client’s specific needs. Over the past 28 years, FNL has gained the trust of its clients and community by tirelessly working to provide comprehensive, independent, and objective financial advice and services.
“Financial Network Limited is excited to be part of Prime Capital Investment Advisors. This strategic partnership provides our team with the opportunity to work hand-in-hand with a nationally recognized firm and allows us to continue our mission of providing clients with first-class asset management, financial planning and employee benefits advice,” says Michael Del Re, III, Northeast Managing Partner of FNL, a Prime Capital Investment Advisors Company.
“The entire PCIA family is pleased that we will be joining forces with Financial Network Limited. Aside from providing us with the opportunity to expand our footprint on the East Coast, this acquisition aligns with our goal to work with financial professionals who are focused on providing fiduciary advice and achieving each of their client’s goals,” says Glenn Spencer, Chief Executive Officer of PCIA. “At PCIA, we’re focused on working with professionals who are experts in the industry and are passionate about helping people. FNL exceeds these standards and we look forward to providing them with expanded resources and technology to continue to provide clients with unique solutions tailored to their needs.”
The acquisition will be completed on December 31, 2021; it adds eight professionals, 564 clients and solidifies PCIA’s presence in the Northeast. PCIA’s plans are to continue investing in quality businesses and people in this region of the United States.
FNL was advised by Park Sutton Advisors, a specialty investment banking firm based in New York. Terms of the transactions were not disclosed.
About Prime Capital Investment Advisors
Prime Capital Investment Advisors provides a client-centric team approach to full-service financial planning, including fee-based asset management and wealth management through its Prime Capital Wealth Management brand. Through its Qualified Plan Advisors brand, the firm also provides retirement plan advisory services, as well as plan participant education. PCIA currently has 27 locations throughout the United States, with investment advisor representatives serving clients across the nation. Advisory services offered through Prime Capital Investment Advisors, LLC. (“PCIA”), a Registered Investment Adviser. PCIA doing business as Qualified Plan Advisors (“QPA”) and Prime Capital Wealth Management (“PCWM”). For more information, visit www.pciawealth.com.
About Financial Network Limited
Financial Network Limited was founded to provide personalized investment strategies for individuals and families and distinctive employee benefit programs for employers. Today, the firm embodies the same mission and commitment: to provide comprehensive and innovative client solutions with the highest levels of professionalism and integrity. For more information visit www.fnlonline.com.
