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

Schwab loses $4.5 million lawsuit to teachers who bought structured products
Schwab loses $4.5 million lawsuit to teachers who bought structured products

The products in question were a mix of sophisticated, complex and potentially volatile offerings.

Concurrent adds $425 million Houston team as breakaway wave continues
Concurrent adds $425 million Houston team as breakaway wave continues

Winstone Wealth Partners joins Concurrent from Raymond James, pushing the RIA platform's assets past $23 billion this year.

Democratic lawmakers demand probe into DOL 401(k) rule comments
Democratic lawmakers demand probe into DOL 401(k) rule comments

Senior Democrats including Senator Bernie Sanders urge a DOJ and FBI investigation into thousands of allegedly fake comments backing DOL's private-assets 401(k) rule.

Retirement assets hit $51.2 trillion as savers keep contributing
Retirement assets hit $51.2 trillion as savers keep contributing

Total US retirement holdings jumped 7.9% in the second quarter, with 401(k) balances and IRA contributions both climbing despite lingering economic unease

Global M&A value rises 15%, with highest sentiment in financial sector
Global M&A value rises 15%, with highest sentiment in financial sector

Megadeals are surging in 2026, but small and mid-market transaction volume remains well below historical norms.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains