Beacon Pointe Advisors, a Newport Beach, California-based registered investment adviser managing more than $12 billion, has acquired Rainier Financial Group, a Seattle-based RIA managing $500 million.
The acquisition, the terms of which were not disclosed, marks Beacon Pointe’s first foray into the Pacific Northwest and its twenty-fifth office.
Joining Beacon Pointe will be Rainier’s four-person team: Grant Hartvigson, as a partner and managing director; James Simone and Kimberly Arnesen as senior wealth advisers; and Lauren Reisenauer as a client service associate.
A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year- their highest share since 2021 according to Devoe & Company.
Also, Advisor CRM announces a new data integration partnership to ease the pain of client onboarding.
Meanwhile, Merrill Lynch intends to continue building its alternative investment platform for wealthy clients.
The co-founder of IFG discussed with InvestmentNews the unique opportunity that remaining independent offers to build a successful firm.
Three industry leaders will join the hybrid RIA's president and LPL alum, Andy Kalbaugh, to help guide its organic and merger-based growth strategy.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
