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Financial Advisory  + M&As  + RIAs & Financial Advisors  | 
KKR-Backed Beacon Pointe Advisors Buys Five RIAs, Adds $1.5B to Client Book

KKR-Backed Beacon Pointe Advisors Buys Five RIAs, Adds $1.5B to Client Book

Newport Beach, CA Beacon Pointe Advisors, the largest female-led registered investment advisor (RIA) in the country, acquired five RIAs in the last three months with combined assets of nearly $1.5 billion. The acquisitions extend the firm’s footprint to Illinois, Michigan and Utah.

While financial details of the deals were not disclosed, KKR-backed Beacon Pointe acquired $300 million Midwest Financial Advisor Group with offices in Skokie, IL and Bloomfield, MI; $155 million Denver-based Pinnacle Wealth Management; $240 million Bennicas & Associates in Portola Valley, CA; Ailsa Capital, Beacon Pointe’s first Utah office; and Nexus Wealth Advisors in Santa Cruz, CA.

“Coming off of a busy year of M&A activity in 2021, it was great to keep that same momentum in 2022,” said Matt Cooper, President of Beacon Pointe Advisors. “Not only did we expand into several new territories, including three new offices in the Midwest, but we added further density in existing markets that we have been pursuing for quite some time.”

Beacon Pointe now has approximately $25 billion in client assets and 46 offices across the country.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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