Beacon Pointe Advisors, a Newport Beach, California-based RIA managing $10 billion, has acquired Wealthstreet Investment Advisors, a Dallas-based registered investment advisory firm managing more than $1 billion.
Wealthstreet’s Joe Ray, Michael Kane and Michael Beck join Beacon Pointe as managing directors, with Leslie Reynoso and Lynette Heil also joining as equity partners.
Wealthstreet was founded as Gerald L. Ray and Associates in 1977 and adopted its current name in 2017.
The deal brings Beacon Pointe's AUM in the Dallas area to about $2 billion, according to the press release, following a 2016 acquisition in the area.
The Reddit trading community's formal comment letter against the proposal is drawing widespread attention across finance and tech circles.
RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.
UBS has a history of costly litigation stemming from the sale of volatile investment products.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
