Sun Life Financial has completed the purchase of Prime Advisors, Inc., which is headquartered in Redmond, Washington. The acquisition was announced on June 30, 2015.

Founded in 1988, Prime had approximately US$13 billion of AUM as of June 30, 2015. The firm manages fixed-income portfolios, focusing on U.S.-based insurance companies in the property and casualty, health and life industries.

Prime will continue to operate as a standalone unit; however, it will also be a member company on the Sun Life Investment Management platform.