Beacon Pointe Advisors, a registered investment advisor based in California, continues to make waves in the industry with recent acquisitions. Just two days after announcing the addition of their first breakaway team from a wirehouse, the firm revealed that they have acquired two other practices that collectively manage over $900 million in client assets.
A Significant Addition
The larger of the two acquisitions is a $700 million team headed by advisor Reed Finney, formerly with the Bleakley Financial Group. With this move, Beacon Pointe has established a new office in Roseland, N.J., marking its third location in the tri-state area. Finney expressed that he thoroughly vetted Beacon Pointe before deciding to join, and determined that the firm would be an excellent fit to support their high-touch service model.
“After a rigorous year of due diligence, it became evident that Beacon Pointe and our team shared the same values and emphasis on prioritizing our clients,” Finney said. “Joining Beacon Pointe will allow us to enhance our institutional investments, legacy planning, overall financial planning, and provide us with more freedom to dedicate our time to our clients.”
Bleakley principal Andy Schwartz described the departure of Finney, whom he worked with for decades, as amicable. He expressed his support and well wishes for Finney’s new endeavor.
Expanding Presence in the Bay Area
Beacon Pointe is also bolstering its presence in the Bay Area through the acquisition of Private Capital Management, a father-daughter practice located in Larkspur, Calif. This practice manages approximately $240 million in client assets.
Beacon Pointe Expands its Reach with Acquisitions and New Team Additions
One of the latest additions to the Beacon Pointe team is John Ramos, formerly Private Capital’s principal and now a managing director and partner at Beacon Pointe. Ramos praised his new firm’s commitment to serving women, highlighting that over half of his team’s clients are women. In joining Beacon Pointe, Ramos saw a natural fit due to the firm’s client-first approach and shared values. He also recognized the need for additional support, expertise, and access to institutional-grade investments to drive further growth.
In line with their expansion plans, Beacon Pointe recently announced the acquisition of a wirehouse team led by Russell Crow and William Diehl. This addition brings significant value to Beacon Pointe’s Dallas office, as Crow and Diehl bring with them an impressive track record of managing around $2 billion in assets for approximately 50 ultrahigh-net-worth clients. With 24 years of experience each in the wealth management industry, both advisors have built their careers at reputable firms such as Morgan Stanley, Goldman Sachs, and UBS.
Shannon Eusey, CEO of Beacon Pointe, expressed her excitement about welcoming Crow, Diehl, and their team. She emphasized that their depth of experience and professionalism will be a great asset to Beacon Pointe as it continues to serve its clients with excellence.
Beacon Pointe’s commitment to expansion is evident not only through acquisitions but also through its growing footprint. With 50 offices across the country and over $30 billion in assets under advisement, the firm has positioned itself as a trusted partner for clients nationwide.