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.
A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.
Morningstar research data show improved retirement trajectories for self-directors and allocators placed in managed accounts.
Some in the industry say that more UBS financial advisors this year will be heading for the exits.
The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
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.
