Newport Beach, CA – Tuesday, January 18, 2022 – Beacon Pointe Advisors (“Beacon Pointe”) today announced that it completed five new RIA acquisitions and officially closed a previously announced investment from KKR at the end of 2021.
With the addition of these new partnerships, Beacon Pointe closed out 2021 with a total of 14 acquisitions amounting to more than $7 billion in assets under management, up from four deals completed in 2020 for roughly $2 billion AUM. These new partnerships help grow Beacon Pointe’s presence in existing markets while also expanding its footprint to new locations, including Tennessee and Wisconsin. The firm now has approximately $25 billion in assets under management and 33 offices nationwide.
“2021 was certainly an exciting year. We more than tripled our M&A efforts and we now have more than 70 incredibly engaged partners helping us continue building a premier RIA with a laser focus on serving clients and putting their needs above all else,” shared Matt Cooper, President of Beacon Pointe Advisors. “We are very energized for the year ahead.”
With $385M in assets under management, Newport Wealth Strategies (“NWS”) will be joining forces with one of Beacon Pointe’s existing Newport Beach office locations, making this the fourth partnership for Beacon Pointe in the Newport Beach area, following the firm’s recent home turf merger announcement of Pacific Edge Advisors. Founder of NWS, Darin Simonian, CFP®, CPA will be joining Beacon Pointe as a managing director and partner, alongside one other professional staff member.
The Retirement Planning Specialists (“RPS”) joins with $229M in AUM. Located in Greenwood Village, CO at the heart of the ‘DTC’ (Denver Tech Center), RPS will be Beacon Pointe’s second Colorado office. The small but mighty duo of RPS founder and now Beacon Pointe managing director and partner, Sean Curley, CFP®, and wealth advisor Michael Beaulieu, CFP® join the firm with specializations in retirement planning.
Located in Memphis, $441M AUM Century Wealth Management (“CWM”) will become Beacon Pointe’s first office in Tennessee. Founder, Jay Healy, CFP®, CEPA, who previously spent fifteen years in the music industry collaborating with artists such as Billy Joel, Mariah Carey, REM, and Live, before becoming a financial advisor, joins Beacon Pointe as a managing director and partner, alongside two additional team members. For Jay, it was the “1+1=3” mentality and culture of Beacon Pointe that was attractive as a partnership.
Milwaukee based Next Generation Wealth Management (“NGWM”) has $563M in AUM and will be Beacon Pointe’s first office in the state of Wisconsin. NGWM founding partner and a gentleman with both community and entrepreneurial spirit, David Massart, joins Beacon Pointe as a managing director and partner along with four talented team members.
Southern Trust Financial Planning (“STFP”), with $405M in assets under management, expands Beacon Pointe’s Florida footprint with offices in Sarasota and Bonita Springs. Avid marathoner and firm owner, Marc Wolff joins Beacon Pointe as a managing director and partner, along with James Cooper as partner and a senior wealth advisor, accompanied by seven team members.
“With our incredible growth and now 33 offices nationwide and approximately $25 billion in assets under advisement, client-centric service and firm culture are still our forefront guiding principles,” shares Shannon Eusey, Beacon Pointe CEO. “We have many bright minds and an energetic professional team that are only going to enhance both. And now, with the support of KKR, we could not be more excited for what lies ahead in 2022.”
Financial terms of aforementioned deals were not disclosed.
Representatives from Beacon Pointe and the respective partner RIAs are available for interviews upon request.
About Beacon Pointe Advisors:
Beacon Pointe Advisors is the largest female-led registered investment adviser (RIA) in the nation 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 through our proprietary allWEALTH® approach. Our advisors’ extensive expertise and strong commitment to our clients can be seen through numerous awards, including recognition from 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 and on Twitter @BeaconPointeRIA, LinkedIn, Facebook and Instagram @BeaconPointeAdvisors.
While the ownership of Beacon Pointe has changed as a result of the investment by a private fund managed by KKR, KKR will not participate in the day-to-day management of Beacon Pointe and Beacon Pointe’s brand, culture, executive leadership team and advisory teams will remain unchanged. KKR will not serve as the investment adviser to any Beacon Pointe clients, and each client will continue to be served by the same Beacon Pointe teams going forward.
Allison Warner, Chief Marketing Officer
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