Beacon Pointe acquires $690 million CBD Wealth Management

Beacon Pointe acquires $690 million CBD Wealth Management
Deal is Beacon Pointe's second since taking private equity funding
NOV 23, 2020

Beacon Pointe Advisors, a Newport Beach, California, registered investment adviser that manages $9.9 billion, is acquiring CBD Wealth Management, a Metairie, Louisiana-based firm managing $690 million.

This is Beacon Pointe’s second acquisition since it sold a minority ownership stake to private equity investor Abry Partners in March.

“The culture fit between Beacon Pointe and CBD is spot on,” said Matt Cooper, partner and president of Beacon Pointe.

“Our synergies are profound, and as always, we are truly excited to partner with great people,” Cooper said.

CBD brings 11 additional members to Beacon Pointe, including partners Rocky Daigle, Bobby Comeaux, and Walter Bond.

“We're really excited to leverage Beacon Pointe's infrastructure and expertise in the areas of investment management, planning, HR, compliance, marketing and operations,” Comeaux said. “As we've grown, the behind-the-scenes work was eating away at more and more of our time. This partnership will free us up to focus on what's most important -- our clients and their financial needs."

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

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.