Newport Beach, CA – Monday, November 23, 2020 – Beacon Pointe Advisors (“Beacon Pointe”), one of the country’s largest independent comprehensive wealth advisory firms, announces their most recent merger involving CBD Wealth Management (“CBD”), a wealth management firm with $690 million in assets under management/advisement, making this Beacon Pointe’s largest deal to date. CBD is located in Metairie, Louisiana, a suburb of New Orleans, and represents clients throughout the entire state of Louisiana. CBD brings to Beacon Pointe 13 additional members of a vibrant team including three partners, Rocky Daigle, Bobby Comeaux, and Walter Bond, two advisors Doug Tillman and Ian Blanchard, and six professional staff including Megan Cochran, Natalie Trainor, Kimberly Crawford, Mollie Taylor, Craig Crespo, Greg Dennie, Ben Hess, and Ellen O’Reilly.
Within an extremely competitive RIA mergers and acquisitions landscape, when asked why the CBD founders selected Beacon Pointe as their partner, Rocky Daigle stated, “It really came down to culture. Sure, Beacon Pointe has tremendous expertise in the areas of investment management, financial planning, and all the other areas you’d expect from one of the top RIAs in the country, but it’s the collaborative, sharing environment and the great people that made Beacon Pointe really stand out.”
Rocky, Bobby and Walt join Beacon Pointe as Managing Directors and Partners. Their relationship goes as far back as high school classmates prior to collectively founding CBD Wealth Management. Rocky Daigle, AIF® was originally a practicing attorney and in 2000 turned to building a financial planning business, effectively founding CBD Wealth Management in partnership with Bobby and Walt. Rocky oversees CBD’s corporate retirement plan division and last year was recognized as one of the Best-in-State Wealth Advisors by Forbes Magazine. Walt Bond, CFP® has a background as a practicing attorney where he focused in the areas of defense litigation and estate planning. Now, Walt specializes in advising business owners and retirees including clients retiring from Chevron and Entergy. Also beginning his career as an attorney, Bobby Comeaux, AIF® oversees CBD’s investment and operational functions and assists clients with their retirement and business planning needs. As lifelong natives to New Orleans, the entire team at CBD is deeply passionate about serving their community and the people that live within the NOLA region.
“Joining Beacon Pointe, ranked by Barron’s as one of the top 30 RIA firms in the nation, will give us access to enhanced resources, including a larger investment management team, a broader financial planning department, and enhance our management of 401(k)s and other retirement plans, all resulting in a better experience for our clients,” Walter Bond said. “Moreover, this partnership provides our team members with a clearly defined career path to aid in retention and attraction of talented professionals,” he continued.
CBD Wealth Management joins Beacon Pointe representing the firm’s second office in the southern region of the United States and the second merger since Beacon Pointe’s strategic partnership with minority investor Abry Partners earlier this year. “The culture fit between Beacon Pointe and CBD is spot on,” says Matt Cooper, Partner and President, “and that is of paramount importance to both firms. Our synergies are profound, and as always, we are truly excited to partner with great people. This merger in the NOLA region showcases Beacon Pointe’s drive for growth and continued national expansion entering another key geographical area of the country to be closer to clients and further expand our footprint.”
“We’re really excited to leverage Beacon Pointe’s infrastructure and expertise in the areas of investment management, planning, HR, compliance, marketing and operations. As we’ve grown, the behind-the-scenes work was eating away at more and more of our time. This partnership will free us up to focus on what’s most important – our clients and their financial needs,” Bobby Comeaux said.
Matthew Cooper of Beacon Pointe and CBD Partners are available for interviews upon request.
About Beacon Pointe:
Beacon Pointe Advisors is a registered investment adviser headquartered in Newport Beach, California, with office locations and clients located nationally. Clients have long relied on Beacon Pointe’s professional advisors to help determine investment goals, establish asset allocation guidelines, screen investment managers for selection, evaluate fund performance, and develop strategic financial plans. Our advisors’ extensive expertise and strong commitment to our clients can be seen through numerous accolades, including being recognized by Bloomberg, Forbes, Financial Advisor Magazine, CNBC, Barron’s and more. For more information on Beacon Pointe’s wealth advisory services, please visit: www.beaconpointe.com.