Lawing Financial will become Prime Capital Investment Advisors with four current team members as new owners
OVERLAND PARK, KAN. — (June 27, 2017) – Lawing Financial is capitalizing off recent growth to move forward with a series of expansion moves: rebranding a significant piece of its business under a new ownership structure, elevating its current retirement plan business unit to its own stand-alone brand, and launching a new company focused solely on wealth preservation strategies.
Kerry Lawing, President and CEO of Lawing Financial, which he founded in 1985, and an internal group of investors, including current minority owners of Lawing Financial, have agreed to terms of a deal to transfer ownership of the flagship firm to the internal group. Kerry Lawing and a few existing team members will spin off the Wealth Preservation Division into its own stand-alone company.
“Our business is doing very well. In fact we just completed one of our strongest quarters ever. When our senior management approached me with this opportunity, we quickly realized this was a tremendous fit for everyone involved. What better time than now to organize our business for the future,” said Lawing.
The transition will result in a new firm, Prime Capital Investment Advisors. As the name implies, the firm will focus on investments. “The principals have been with us for a long time and their experience will allow the firm to continue its planned growth.”
Lawing Financial senior managers Scott Colangelo and Tim Hakes, along with tenured advisors Joe Hildebrand and Joe Zdeb, will be the owners of Prime Capital Investment Advisors. Colangelo will assume the role of CEO and Hakes will be the firm’s president.
The new ownership team averages 24 years of service in the financial services industry and over 20 years at the firm, thus ensuring continuity to clients and employees.
“We are very grateful to Kerry Lawing for the foundation he established for the firm, said Scott Colangelo, CEO. “Kerry has built a fantastic team of people all focused on delivering the best possible results for our clients. We plan on continuing that tradition of a team based approach to investing which has been very successful for our clients.”
Prime Capital Investment Advisors will specialize in providing a collaborative approach to fee-based wealth management. Qualified Plan Advisors will operate alongside Prime Capital Investment Advisors and continue to serve the qualified retirement plan market as a separate brand functioning under the new ownership.
“The continuity of service and growth is important to all of us, “ said Tim Hakes, president. “We will also continue to introduce new programs that will enhance opportunities for our customers and allow us to continue to grow the firm.”
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. The firm has several locations throughout the United States, with investment advisor representatives serving clients across the nation.