Beacon Pointe Advisors, an lively RIA acquirer in Newport Seaside, Calif., has added a pair of corporations with greater than $600 million in property beneath administration, in response to a information launch.
The monetary phrases of the offers, which have closed, weren’t disclosed.
Boston-based Artemis Monetary Advisors, the bigger of the 2 corporations, was based by CEO Leigh Bivings and manages $350 million. The agency’s “experience in ladies’s wealth and dedication to advisory mentorship and monetary literacy enhances the mission of the Beacon Pointe Girls’s Advisory Institute,” the discharge famous. Beacon Pointe launched the institute in 2011 to offer help for its feminine shoppers and their households.
Artemis makes a speciality of supporting retirees, prosperous ladies, physicians, younger professionals, and shoppers navigating life transitions and complicated compensation buildings, the discharge stated.
“We’re thrilled to companion with Beacon Pointe and are particularly excited to collaborate carefully with their gifted Boston crew,” Bivings stated in an announcement. “Beacon Pointe’s people-first tradition and client-centric method align completely with our personal values and mission. By becoming a member of forces, we’re enhancing our means to offer personalised, holistic wealth administration companies and increasing the sources obtainable to our shoppers,” she added.
Beacon Pointe president Matt Cooper stated Artemis provides to the sturdy feminine management in his agency’s main markets. The agency now has feminine leaders in Boston, Chicago, New York, Philadelphia, the Dallas-Fort Value space, Orlando, and throughout Southern California. “With an workplace on famed Newbury Road, Leigh and her companion Mark Haser convey a Again Bay presence to our already profitable Boston workplace in Waltham, led by Mark Mathers. Our two Boston workplaces will collaborate to serve extra shoppers the ‘Beacon Pointe method’ in Boston and the larger New England space,” he added.
The second acquisition is WhiteRock Wealth Administration, a family-owned registered funding advisor with $263 million in property that’s led by president and chief funding officer David Gurun. Its crew of 4 professionals has “a number of a long time of mixed trade expertise,” and the agency has “set itself aside by means of considerate asset administration, integrity, and responsive shopper service,” the discharge stated, including that “the agency goes past prudent funding administration to ship a full spectrum of monetary companies, together with tax and property planning, retirement financial savings, property preparation, and broader spending steerage.”
“Our crew is happy to hitch Beacon Pointe, understanding the philosophy we adopted for 3 a long time is aligned with the corporate’s core values. The depth of Beacon Pointe’s infrastructure will permit our multi-generational shoppers to profit from their complete, personalised wealth administration companies,” stated Gurun.
Beacon Pointe’s CEO Shannon Eusey stated the addition of WhiteRock boosts Beacon Pointe’s presence within the Dallas-Fort Value market, a key development space for the agency. “That is our seventh acquisition within the Lone Star State; collectively, we’re positioned to offer an excellent increased degree of personalised service and meet the thrilling demand of native shopper development,” she stated.
These newest transactions, together with Beacon Pointe’s different current offers, have grown the agency’s property beneath advisement to about $39 billion. The agency now has greater than 580 workers throughout 64 workplaces nationwide.
In October, Beacon Pointe made three acquisitions. It purchased Lake Elmo, Minn.-based Landmark Wealth Administration with $1 billion; Bridge Advisory, a 35-year-old Pasadena, Calif., agency with $460 million in shopper property; and Charleston Funding Advisors in Mount Nice, S.C., a agency with $140 million in shopper property.
