Beacon Pointe to Merge Two RIAs, Sells Minority Stake to PE Firm
Beacon Pointe Advisors LLC and Beacon Pointe Wealth Advisors LLC, two affiliated registered investment advisors, plan to merge into a single RIA operating as Beacon Pointe Advisors LLC.
Beacon Pointe Advisors LLC and Beacon Pointe Wealth Advisors LLC, two affiliated registered investment advisors, plan to merge into a single RIA operating as Beacon Pointe Advisors LLC.
In addition, private equity firm Abry Partners made a minority investment into the firm that facilitates the merging of the RIAs into a single entity, provides liquidity to existing shareholders, and funds expansion through the firm’s merger and acquisition strategy, the company said. Abry currently manages more than $5 billion of capital across their active funds.
Founded in 2002, Beacon Pointe Advisors has more than $11 billion in assets under management and advisement. The RIA serves endowments and foundations, retirement plans, and high-net-worth individuals and families.
“The merger of our RIAs simply provides for added efficiencies and alignment across the business,” said president, Matt Cooper. “We are excited about our partnership with Abry as their expertise and capital inflow will open gates to an expanded opportunity for synergistic office acquisitions and exponential organic growth.”
Simultaneous to the merger, Beacon Pointe announced the acquisition of Winter Park, Florida-based Ferrell Wealth Management Inc, adding more than $460 million of assets under management and bringing Beacon Pointe to a total of 16 offices and more than $11.5 billion in total assets under advisement.
Financial terms were not disclosed.
Beacon Pointe Advisors is headquartered in Newport Beach, California, with office locations and clients located nationally.
