Beacon Pointe Enters the Empire State with Acquisition of $1B RIA YorkBridge
Beacon Pointe Advisors has acquired YorkBridge Wealth Partners, a seven-year-old registered investment advisor (RIA) with approximately $1 billion in assets focused on high-net-worth clients with offices in New York City and Bridgehampton, NY.
The financial terms of the transaction were not disclosed. The deal marks the largest acquisition of 2023 for the female-led Newport Beach, CA-based RIA.
“We entered the tri-state marketplace with our (Summit, NJ-based) Heller Wealth partnership in 2019, and we are excited to expand the Beacon Pointe family of offices in New York,” said Beacon Pointe President, Matt Cooper.
Carrie Gallaway and Andrew Stern will join Beacon Pointe as partners and managing directors, bringing three advisors and three professional staff members.
Beacon Pointe last month announced five RIA acquisitions that added a combined $955 million in assets. Including the YorkBridge deal, the firm now manages roughly $26 billion in total client assets with 46 offices across the country.