RIA Consolidator Beacon Pointe Announces Deal With $100 Million AUM RIA And Is Looking For 40 More RIAs

Monday, April 08, 2013 09:13
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RIA Consolidator Beacon Pointe Announces Deal With $100 Million AUM RIA And Is Looking For 40 More RIAs

Tags: Advisor businesses | asset management | business strategy | mergers | RIAs; consolidation

Beacon Pointe Wealth Advisors (BPWA) today announced the addition of a fourth advisor partner, $100M AUM RIA Independent Financial Advisors of Riverside, CA. It's the fourth deal consummated by Beacon Pointe within a span of four months from the last transaction. Independent Financial Advisors principals James Valmonte and Teri Parker join BPWA as Managing Directors and equity partners.

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Beacon Pointe's RIA has $5.6 Billion under management and is afiliated with a CPA firm. Smaller RIAs are offered a chance to leverage Beacon's brand and "proven processes at the retail and institutional levels."

 

"Beacon Pointe Wealth Advisors is actively looking to expand into the Northwest, Denver, Dallas, Boston and Connecticut markets, and aims to add 35 to 40 offices nationwide over the next 10 years," says a press release. "BPWA is looking for growth focused, qualified advisors in the $100 to $300M range to join as regional partners. BPWA’s proactive path to growth benefits clients first and foremost, by empowering partner advisors to provide the best possible, truly fiduciary, custom-built financial models possible."

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