Beacon Pointe Advisors, a Newport Beach, California-based registered investment adviser managing more than $12 billion, has acquired Rainier Financial Group, a Seattle-based RIA managing $500 million.
The acquisition, the terms of which were not disclosed, marks Beacon Pointe’s first foray into the Pacific Northwest and its twenty-fifth office.
Joining Beacon Pointe will be Rainier’s four-person team: Grant Hartvigson, as a partner and managing director; James Simone and Kimberly Arnesen as senior wealth advisers; and Lauren Reisenauer as a client service associate.
Plus, a $400 million Commonwealth team departs to launch an independent family-run RIA in the East Bay area.
The collaboration will focus initially on strategies within collective investment trusts in DC plans, with plans to expand to other retirement-focused private investment solutions.
“I respectfully request that all recruiters for other BDs discontinue their efforts to contact me," writes Thomas Bartholomew.
Wealth tech veteran Aaron Klein speaks out against the "misery" of client meetings, why advisors' communication skills don't always help, and AI's potential to make bad meetings "100 times better."
The proposed $120 million settlement would close the book on a legal challenge alleging the Wall Street banks failed to disclose crucial conflicts of interest to investors.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
