A team of advisors who oversaw $2 billion in client assets at UBS Private Wealth Management have joined RIA Beacon Pointe Advisors, the firm announced Tuesday.
Russell Crow and William Diehl head the Dallas-based group of six that serves approximately 50 ultra-high-net-worth households.
Their decision to join Beacon Pointe was based on the firm’s “fiduciary environment,” and the fact that it would allow them to provide clients with a robust investment platform as well as family-office levels of service, according to a statement.
Both Crow and Diehl have 24 years of experience, according to BrokerCheck; both had been affiliated with UBS since 2009 after earlier stints at Goldman Sachs and Morgan Stanley.
Their team includes senior relationship managers Julie Montgomery and Julie Anderson, senior associate wealth advisor Pierce Halsted, and associate wealth advisor Sarah Stubbs.
"The depth of experience and professionalism from this team is a great compliment to Beacon Pointe, said Shannon Eusey, CEO of Beacon Pointe.
Newport Beach, California-based Beacon Pointe, the nation’s largest female-led RIA, said the addition of Crow and Diehl’s group marked the first time it has welcomed a team breaking away from a wirehouse.
Plus, a $400 million Commonwealth team departs to launch an independent family-run RIA in the East Bay area.
The collaboration will focus initially on strategies within collective investment trusts in DC plans, with plans to expand to other retirement-focused private investment solutions.
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