Beacon Pointe Advisors, a Newport Beach, California-based registered investment adviser managing $20 billion, has acquired another RIA in its hometown, Pacific Edge Advisors, which manages $678 million.
David Emmes and Heidi Benavidez of Pacific Edge will join Beacon Pointe, along with two staffers.
Terms of the acquisition were not disclosed.
[More: KKR invests in RIA Beacon Pointe]
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
