Giant California RIA acquires two firms
Beacon Pointe Advisors adds CDA Group, based in Greenville, South Carolina, and Essex Asset Management, in Vero Beach, Florida.
Beacon Pointe Advisors, a Newport Beach, California-based registered investment adviser managing $10 billion, has acquired CDA Group, a Greenville, South Carolina-based RIA managing $510 million, and Essex Wealth Management, a Vero Beach, Florida, RIA managing $110 million.
[ESG Video: Making of ‘Flowers in the River’]
CDA partners Joe Schofield, Kent Giguere and Steven Bright are joining Beacon Pointe, as are Essex owners Kerstin Murphy and Michael Himmel.
[More: Beacon Pointe acquires $690 million CBD Wealth Management]
OneDigital acquires firm overseeing $1 billion in plan assets
The deal for Vertical Financial Group is the insurance giant’s second big purchase of a retirement plan adviser.
Retirement risk rose slightly in 2020, study finds
Roughly half of American households may not be able to maintain their standard of living in retirement, according to a report from the Center for Retirement Research.
Trio managing $500 million at BB&T joins Raymond James
Chuck Crist, Chuck Gillingham and Ryan H. Jones are joining the firm's employee channel in St. Augustine, Florida.
William Blair team managing $2.2 billion forms RIA
Salvino Wealth Management team in Hinsdale, Illinois, becomes Performance Wealth
SEC charges father-and-son team with fraud
The agency says that Michael Sztrom's son David faked being an adviser with his father’s help.
