Beacon Pointe Buys Another Texas-Based RIA
Beacon Pointe Advisors, a registered investment adviser backed by private equity firm Abry Partners, has purchased D.R. Saur Financial, a $230 million Texas-based RIA.
Beacon Pointe Advisors, a registered investment adviser backed by private equity firm Abry Partners, has purchased D.R. Saur Financial, a $230 million Texas-based RIA.
Earlier this month, Beacon Pointe purchased Wealthstreet Investment Advisors, a Dallas-based RIA with more than $1 billion in assets under management, its largest acquisition to date.
D.R. Saur Financial was founded nearly 28 years ago by Dan and Lisa Saur to focus on serving the niche clientele of medical doctors, dentists, pre-retirees, business owners, high net worth individuals and families. The Saur’s sought to merge with a larger firm to have additional scale in technology, investments and service that would enable their advisors to focus more on serving clients, the company said.
The D.R. Saur Financial team has five additional members who will be joining Beacon Pointe including Michael Welch, Haley Richards Rodriques, Matthew Wolfe, Amy Walley, and Lindsay Thornhill.
The transaction closed on April 16th and is the sixth RIA acquisition completed by Beacon Pointe in the last six months. Financial terms were not disclosed.
Beacon Pointe Advisors is a multi-billion-dollar registered investment adviser headquartered in Newport Beach, California, with offices and clients located nationally.
