Beacon Pointe Reaches Nearly $37B With Two New Acquisitions

Beacon Pointe Advisors said it is closing in on $37B in total assets under advisement with its acquisition of two advisory firms managing a combined $600M in assets. 

In an October 1 press release, the Los Angeles-based RIA said Independent firms Bridge Advisory and Charleston Investment Advisors bring approximately $460M and $140M in managed client assets, respectively. The 16-person Bridge Advisory will further expand Beacon Pointe’s Southern California network, while the four-person Charleson group will be its second office in South Carolina. 

Beacon Pointe formally closed the acquisition of Bridge Advisory on September 30, and it expects to finalize its transaction with Charleston in the fourth quarter of the year.

Per its website, Beacon Pointe has 58 advisory offices across 20 states nationwide.

View the press release here.