Prime Capital Financial Seeks to Expand Client Base in OCIO Push

Retirement plan adviser and wealth management firm Prime Capital Financial announced Tuesday its launch of an endowments and foundations practice, offering these clients outsourced CIO and other fiduciary management services.

The new business line will provide tailored investment management, impact strategy and governance support for family foundations, museums, educational institutions, health-focused foundations and nonprofit endowments, a statement from Prime Capital said.

The new practice will be led by Mark Hays, as its president. He previously held positions at Glenmede, J.P. Morgan Asset Management, Flat World Partners, the Ontario Municipal Employees’ Retirement System and Cambridge Associates.

The Overland Park, Kansas-based firm’s launch of the new practice aims to meet the needs of endowment and foundation investors—especially those with between $5 million and $250 million in assets—that are increasingly seeking outside expertise, a statement from Prime Capital said.

“Endowments and foundations deserve a true partner who can match institutional-caliber expertise with real personal attention, and we’ve already been building that capability across our platform,” said Glenn Spencer, CEO of Prime Capital Financial, in a statement. “Mark gives us the leadership to bring it all together, scale it and deliver it to organizations at a level few firms in this space can match.”