Beacon Pointe Advisors, a Newport Beach, California-based registered investment advisory firm with approximately $13.7 billion of assets under administration, has acquired Wealth Design, an RIA managing $350 million in San Jose, California.
The three-adviser Wealth Design team is led by founder Gene Ka and includes Thu Ka and Melissa Ochoa.
Gene Ka left American Express in 1996 to form Ka Demmler & Associates, which became Wealth Design in 2000.
In a press release, Ka cited succession planning as motivation for the move. "I had tried to hire an advisor as a part of my succession plan, but I never found the right person," he said. "I then started to look for a like-minded partner to help the firm grow and to also secure the future for my clients."
Faulty Forms 1099 and account statements reportedly left some Vanguard brokerage customers overpaying or underpaying taxes for over a decade.
The democratization of ETFs cuts both ways
Independent broker-dealers snap up experienced advisors as competition for established practices intensifies.
Derek Flowers, a nearly 30-year veteran, is set to retire in mid-January, handing the reins to the executive who helped lead the bank's regulatory turnaround.
The campaign spans broadcast TV and streaming, as the brokerage faces slowing client net flows and an $8.1 billion advisor team that left to launch an RIA this month.
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
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
