Beacon Pointe Advisors, a Newport Beach, California-based registered investment adviser managing $10 billion, has acquired DMJ Wealth Advisors, which manages $610 million through four offices in North Carolina, from an accounting firm, DMJ & Co.
The acquired firm has been renamed Beacon Pointe North Carolina and will continue to work with DMJ & Co., as 70% of the wealth management firm’s clients use the services of the accounting firm.
DMJ Wealth Advisors is led by Charles (Chuck) Carrick, Sheryl Austin and Jeff Hwang.
The DMJ deal marks Beacon Pointe's seventh acquisition of a registered investment adviser in the past five months. The seven RIAs had assets under management totaling more than $3.6 billion.
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Broker-dealer expands its model portfolio platform with modular building block strategies designed to give advisors greater customization at scale.
The mega-RIA with roughly $160 billion in client assets remains firmly in acquisition mode amid rumors of private equity giants vying to scoop it up.
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