$30B Beacon Pointe Enters Mid-Atlantic Region

Beacon Pointe Advisors, a registered investment advisor (RIA) based in Newport Beach, CA, with $30 billion in client assets, has announced the acquisition of Keeney Financial Group, a $560 million hybrid RIA.

The financial details of the transaction, which closed on February 15, were not disclosed. It was Beacon Pointe’s first M&A transaction in the mid-Atlantic region and Maryland.

Columbia, MD-based Keeney Financial employs 10 people, including KFG president and founder John Keeney, five wealth advisors and financial planners, and four operational and client service members “personalized financial planning and investment management services to individuals, families, trusts, charitable organizations and foundations, pensions and corporations.”

“The Keeney Financial team gives us a strategic presence between Baltimore and Washington D.C. metro areas, in a very attractive and affluent locale. We’re excited to support them and have them represent Beacon Pointe in the region,” said Beacon Pointe president Matt Cooper.

Beacon Pointe, backed by private equity firm KKR, has seen considerable expansion through acquisitions such as YorkBridge, a $1 billion New York practice, and UBS’s $2 billion ultra-high-net-worth Dallas team.