Beacon Pointe Advisors, a Newport Beach, Calif.-based registered investment advisor with about $47 billion in client assets under management and advisement, has completed a marathon acquisition spree with six deals across the U.S. in 60 days.
The acquisitions include RIAs in Massachusetts, California, Ohio, Texas and Wisconsin, with assets ranging from $1 billion to $210 million. The firms also include leadership teams run in part or fully by women, a focus of Beacon Pointe, which bills itself as the largest female-led RIA in the country.
Beacon Pointe is backed by private equity firm KKR, which took a less than 50% stake in 2021 when it had about $20 billion in client assets. CEO and founder Shannon Eusey and President Matt Cooper lead the firm.
The acquired advisories, which the firm is publicly announcing for the first time, will take on the Beacon Pointe name. They will also gain access to what the RIA calls its allWealth services, including financial, retirement, estate, tax and healthcare planning, along with investment management.
The acquisitions include:
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Waypoint Wealth Partners, a Mill Valley, Calif.-based fee-only advisory with over $1 billion in client assets and 12 employees. Annette Brinton and Chuck Bowes founded the firm, which includes managing directors Courtney Hutchinson and Jesse Shore. The team members will work with Beacon Pointe’s Women’s Advisory Institute, which focuses on financial planning for women.
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The female-led RIA Hart & Patterson Financial Group will join from its headquarters in Amherst, Mass., with about $284 million in client assets. Vikki Lenhart owns the firm, which focuses on working with women in investments, income planning, tax strategy, charitable giving, estate planning and financial planning.
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Heritage Financial Planning, a Dallas-based RIA with $335 million in client assets, will join Beacon Pointe’s Texas-based advisor group, which oversees more than $6.2 billion. Heritage is led by founders Allison Geiger and Steve Blankenship.
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Jentner Wealth Management will be Beacon Pointe’s first acquisition in Ohio. The firm was founded in 1984 by Bruce Jentner and has almost $600 million in assets under management. It is currently led by Bruce’s sons, Matthew and Seth, and Dan Bloom.
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Michael A. Dubis Financial Planning will join Beacon Pointe’s Middleton, Wisc., office as a fee-only advisory with $280 million AUM. The firm was started by Michael Dubis 20 years ago.
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Ng Wealth Advisors will join as an all-female advisory team led by Sally Ng and her daughter Jeanette Ng. The Bay Area firm brings about $210 million in client assets and focuses on financial planning for women and across generations.
Turkey Hill Management advised on the deals with Michael A. Dubis Financial Planning and Hart & Patterson Financial Group. Advisor Growth Strategies and Troutman Pepper Locke advised on the acquisitions of Ng Wealth Advisors, Heritage Financial Planning, Jentner Wealth Management and Waypoint Wealth Partners.
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