“We know that we have to be growing to remain vibrant as an organization,” PCIA CEO Glenn Spencer said in an email, describing the firm’s plans to leverage its size to enhance client services and provide career opportunities for its staff.

PCIA reported more than $17 billion in assets under management and more than 12,000 client accounts on its most recent form ADV regulatory filing. Spencer said his firm’s business has quadrupled over the past four years, and PCIA is projecting similar growth over the next four years.

“With this said, we are way more focused on being the best, not necessarily the biggest—quality trumps size every day of the week,” he said.

PCIA billed the acquisition of Crossvault as a continuation of its efforts to expand its ranks of women advisors. The firm cited research from McKinsey finding that women account for just 15% of financial advisors, and emphasized that expanding its own ranks of women advisors and leaders is a key priority.

“At PCIA, we are proving that recruiting the highest-quality businesses and improving diversity are not mutually exclusive endeavors,” Spencer said in a statement, citing his firm’s “commitment to recruiting female-owned businesses.”

Crossvault’s three advisors—Laura Ehrenberg-Chesler, Marilou Moursund, and Sarah Calvert Doerr—will join PCIA through the acquisition, along with two support staffers, according to Spencer.

With Burns, Spencer lauded the firm’s “outstanding record relative to growth and marketing.” With that transaction, eight advisors and 15 support staff will join PCIA, expanding the firm’s footprint in the Southeast with eight locations in Florida and Louisiana.

In both deals, PCIA bought 100% of the companies’ assets. Each will continue to operate under their own name, appended with “A Prime Capital Investment Advisor Company.” 

“The plan is to transition brands at a later date,” Spencer said.