Sun Life Financial has completed its purchase of U.S. investment manager Prime Advisors Inc.

Terms of the deal were not disclosed.

The Toronto-based insurance company announced the acquisition at the end of last month, saying it was part of its efforts to diversify its asset management capabilities.

Prime Advisors, which was founded in 1988, had about US$13 billion in assets under management (AUM) as of June 30.

It has offices in Redmond, Wash, and Windsor, Conn., and Sun Life Financial says they will keep those offices there.