Beacon Pointe acquires $175M RIA

California-based advisory conglomerate has its eye on national expansion
OCT 08, 2013
With an eye on more acquisitions, both in California and beyond, Beacon Pointe Wealth Advisors LLC announced its fifth acquisition this year and second this month. The Newport Beach, Calif., based RIA conglomerate announced Monday it bought Pacific Pointe Advisors LLC, a $175 million RIA based in Santa Barbara, Calif. Beacon Pointe is in talks with additional firms in California, where it already has four offices, as well as advisers in Denver, Boston, and Richmond, Va., said Matt Cooper, Beacon Pointe’s president. “It’s a much tougher marketplace, so there are benefits to scale,” Mr. Cooper said. “Being part of a larger firm gives them the resources and the value proposition to attract other advisers.” The latest all-equity deal continues a surge of mergers-and-acquisitions activity for registered investment advisory firms, which are looking to access new markets and plan for a succession in ownership, according to industry analysts. Beacon Pointe is among a growing number of firms eyeing expansion by targeting advisers with between $100 million and $300 million in assets under management. The firm touts its ability to help advisers reduce compliance and research costs while establishing a succession plan. Beacon Pointe, which has $900 million in assets under management, is owned jointly by its advisers and the holding company.

Latest News

Florida investor hits real estate syndicator with fraud suit over $750K
Florida investor hits real estate syndicator with fraud suit over $750K

Six apartment deals, one "big account," and $2.7M in undocumented insider loans. Now the lawsuit lands

Chicago’s 'Mr. Finance' posed as advisor in loan scheme, according to Illinois regulators
Chicago’s 'Mr. Finance' posed as advisor in loan scheme, according to Illinois regulators

The Illinois order refers to Brandon Ellington’s investment program as a “Ponzi-like scheme.”

Bezos calls for zero income tax on bottom half of earners
Bezos calls for zero income tax on bottom half of earners

But the Amazon executive chair seems to want it both ways, arguing that taxing the ultra-wealthy won't help struggling Americans.

Why the Charity Parity Act matters for retired clients in 401(k)s
Why the Charity Parity Act matters for retired clients in 401(k)s

Northern Trust planning leader sees the bill extending qualified charitable distributions to employer plans as a potential positive step — but advisors shouldn't overlook bigger holes in the strategy.

Trust is built before volatility arrives
Trust is built before volatility arrives

Markets will always create reasons for investors to worry. The advisor’s role is not to predict uncertainty, but to help clients understand why volatility should not derail a well-built financial plan.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline