Beacon Pointe Advisors, a Newport Beach, California-based registered investment adviser managing more than $12 billion, has acquired Stonegate Capital Advisors, an RIA managing $430 million in Scottsdale, Arizona.
Stonegate Capital Advisors will merge with Beacon Pointe’s existing Scottsdale office while maintaining a second location in the southern area of the Scottsdale region.
Jameson Van Houten, Stonegate’s sole principal, who founded the firm in 2002, has become the sixth partner in the Scottsdale office. Five team members join him in making the move.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
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