Beacon Pointe Advisors has taken another step in its continuing inorganic growth strategy by welcoming a powerhouse team in the Midwest.
The RIA announced on Wednesday that it has acquired Landmark Wealth Management Group, a Minnesota-based firm overseeing $1 billion in client assets.
The transaction marks Beacon Pointe’s first office presence in Minnesota and its fifth acquisition of 2024. Landmark, founded in 1977, operates across four offices in Lake Elmo and Farmington, Minnesota, Hudson, Wisconsin, and San Jose, California.
"Beacon Pointe is ready to embark on this exciting chapter and enter new US territory with Landmark," Matt Cooper, president of Beacon Pointe Advisors, said in a statement. "Landmark’s culture, client diversity, and geographical presence fit very nicely with Beacon Pointe, and we look forward to amplifying the growth of their already incredible team."
Over its 47-year history starting in 1977, Landmark has built a reputation as a legacy firm, led by its founding partners and second-generation owners. The firm provides comprehensive financial services, including financial planning, investment management, estate planning, tax strategy, and insurance solutions.
Its clients include individuals, families, and business owners, as well as employees of major corporations such as 3M, Lockheed Martin, and Andersen Corporation. Landmark also has a strong focus on female investors, which aligns with Beacon Pointe’s Women’s Advisory Institute.
John Underwood, Landmark’s former CFO and COO and incoming managing director at Beacon Pointe, expressed enthusiasm about the merger, citing their shared "comprehensive financial planning philosophy, values, and culture."
"Both firms put clients at the center of every decision, and Landmark clients will receive the immediate benefit of institutional investment management and exceptional planning platforms," Underwood said.
"The team at Landmark will do very well at Beacon Pointe due to our shared ethos," echoed CEO Shannon Eusey. "Their large group of skilled wealth management and investment professionals will enter as a new powerhouse."
With the addition of Landmark’s 33 team members, Beacon Pointe estimates it will have roughly $38 billion in assets under advisement.
Earlier this month, the firm made traction on two fronts in its acquisition strategy with a bicoastal double-deal expanding its presence in Southern California and South Carolina.
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