Beacon Pointe acquires $500 million Seattle RIA

Rainier Financial Group is the firm's first acquisition in the Pacific Northwest.

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.

[More: Private equity firm takes stake in Beacon Pointe]

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.

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