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]
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
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