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Prime Capital forms spinoff company to work with retirement plans

Prime Capital Investment Advisors LLC has formed a spinoff unit to work with employer-sponsored retirement plans, Kansas City Business Journal reported.

Prime Capital appointed Robert Cruz as executive vice president of the new company, which is named Fiduciary Investment Trust LLC. Cruz is putting together a team to help educate retirement plan participants and building a company website that is expected to be launched in March.

Most recently, Cruz was a retirement external investment consultant and a director with Allianz Global Investors.