Beacon Pointe is pushing deeper into the Pacific Northwest with its latest RIA acquisition.
The national wealth firm and top female-led RIA announced Tuesday that it had forged a partnership with Joslin Capital Advisors.
A Redmond, Washington-based practice, Joslin Capital adds $775 million in client assets to Beacon Pointe’s network, while bolstering its presence in the Seattle Metropolitan Area.
The team is led by CEO Mike Joslin, whose nearly 38 years of experience in the financial services industry includes 30 years registered with Finra. Before that, he spent seven years as a public practice CPA.
Joslin and his team have developed a strong reputation serving high-net-worth individuals and wealth inheritors, as well as business owners, group retirement plans, and professionals in tech and other industries. They also have a longstanding emphasis on working with physicians and non-profit medical associations across the United States.
“After meeting with Beacon Pointe's leadership team and several other shareholders, we knew there was a strong cultural alignment and that we had found our new home,” Joslin said in a statement.
“Our partnership with Beacon Pointe will allow us to add unique and extensive investment and planning resources, enabling us to grow and meet the expectations of the increasingly dynamic, tech-focused world,” he said.
Along with Joslin, his team members including wealth advisors Chris Bentley and David Monsees, as well as client service and operational specialists Charissa Portillo, Lori Bawden, and Eric Land will also be transitioning to Beacon Pointe.
Beacon’s deal to snap up Joslin Capital comes amid a background of “escalating demand for in-depth wealth planning services within Seattle and the greater Pacific Northwest region,” said Shannon Eusey, CEO of Beacon Pointe Advisors.
Building on its March acquisition of a $560 million team in Maryland, which was also its first deal in the state, Beacon Pointe’s move to snap up the Joslin team brings its AUA up to approximately $35.6 billion.
"Mike and his team's process is founded on transparency and trust,” said Matt Cooper, president of Beacon Pointe. “We are looking forward to tapping deeper into the Seattle community with Mike's extensive knowledge, drive, and, ultimately, paralleled leadership style."
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.
Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.
With more than $13 billion in assets, American Portfolios Advisors closed last October.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
