Prime Capital Investment Advisors (PCIA) has acquired the assets of Arkansas-based Sphere Wealth Management for an unknown sum.

The transaction brings in over 200 families and three advisers to PCIA’s business.

The deal builds on PCIA’s strategy to position itself as a premier service provider for wealth management and retirement plan clients through organic and acquisitive growth.

PCIA CEO Glenn Spencer said: “PCIA couldn’t be more enthusiastic about the Sphere team joining our already strong wealth management and retirement businesses in Fayetteville.

“The team’s reputation as a leader in financial services and their drive for excellence in all that they do is inspiring and is a valuable quality we strive to possess throughout the firm.”

As part of the deal, Sphere managing partners Donald Paul, John Paul and Keith Lea will join PCIA.

PCIA Fayetteville business managing director Eric Krause said: “We are excited to be adding top advisory talent to our team in Fayetteville that perfectly aligns with our values.

“We also look forward to providing Sphere clients with an even broader array of wealth services moving forward.”

PCIA offers financial planning, including fee-based asset management and wealth management via its Prime Capital Wealth Management brand.

Through its Qualified Plan Advisors brand, the firm also offers retirement plan advisory services, and plan participant education.

The company currently has 27 locations across the US.

Commenting on the deal, Lea said: “PCIA’s national footprint, deep resources and expansive wealth and retirement platforms will bring tremendous value to our clients in the coming years.”

PCIA relocated its business to North Fayetteville in February this year. The Sphere team will integrate its operations to this location over the next several months, the company said.

In 2019, PCIA agreed to purchase the assets of Arkansas-based Longer Investments.