Beacon Pointe Inks Two More RIA Deals Totaling $940M

Beacon Pointe Advisors announced two more acquisitions on the heels of its first deal with a wirehouse breakaway team announced last week.

Private Capital Management, a roughly $240 million father-daughter registered investment advisory (RIA) team in the San Francisco Bay Area, and $700 million NJ-based Reed Finney Team, which comes from Bleakley Financial, have joined the Newport Beach, CA-based RIA.

Specific financial terms of the transactions, which both closed on September 30, were not disclosed.

“Beacon Pointe’s commitment to women, led by CEO Shannon Eusey, was particularly refreshing, given that over half our clients are successful women,” said Joe Ramos, Beacon Pointe managing director, partner, and former PCM principal.

Summer Ramos, Joe’s daughter, joins Beacon Pointe as a wealth advisor focusing on environmental, social, and governance.

Beacon Pointe now has about $2 billion in Bay Area assets.

Separately, Beacon Pointe worked with the Finney team to select and build a new office in Roseland, NJ, where they will collaborate closely with teams in New York City and Summit, NJ, as part of one of many regional sub-platforms the business is developing nationwide.

“Beacon Pointe will enable us to enhance our institutional investments, legacy planning, and overall financial planning and give us the freedom to dedicate more of our time to our clients,” said Reed Finney, former principal and wealth management advisor with Bleakley Financial Group.

Beacon Poiinted has about 500 employees nationwide, 50 offices, and more than $30 billion in assets under advisement.

Park Sutton Advisors, a Waller Helms Company, was the advisor to Private Capital Management, and Alaris Acquisitions was the advisor to the Reed Finney Team.