SOURCE: Beacon Pointe Wealth Advisors

FiComm Partners

September 09, 2013 09:00 ET

Beacon Pointe Wealth Advisors Adds 175M AUM Santa Barbara RIA; Second Deal in 5 Months

SANTA BARBARA, CA--(Marketwired - September 09, 2013) -

  • Latest addition to BPWA adds 4th CA location, 5th overall
  • BPWA to continue CA expansion and also looking East (Denver, Boston, Richmond)
  • BPWA projected to near 1BB in total AUM by year end and is 100% owned by each of the advisor partners that have joined and Beacon Pointe Advisors, the $5.8 BB AUM RIA 

Beacon Pointe Wealth Advisors (BPWA) a Beacon Pointe Advisors company, expanded today into the Santa Barbara, CA market with its 5th advisory firm addition. The latest partnership adds $175M in assets under management to BPWA, which projects year end asset totals to near or surpass $1 Billion.

Beacon Pointe Wealth Advisors has not hesitated to embrace the perception that it is a "roll-up," an industry term that other firms with a long-term home for advisors have shied away from. 

"The reason that makes firms cringe is because they try to position as something they're not and when the media calls them out on it, they get upset," says Matt Cooper, President of Beacon Pointe Advisors.

Cooper continues, "But the bottom line is that if we know the value we provide, and our advisor partners know it, and feel good about why they joined and how it helps them and their clients, then you can call us whatever you want as long as you acknowledge the good we're doing."

Pacific Pointe, the RIA joining, was first introduced to Beacon Pointe Advisors in 2009 when it formed its own RIA and has been reviewing the benefits of officially joining BPWA since 2011. One of the key drivers for their decision was the exceptional growth of the initial firms joining. The first partner firm has grown from 130M in AUM to 217M, at nearly 30% annualized growth, while the second partner firm has experienced over 400% growth, from 50M to 215M in AUM. All firms joining have been growing steadily. 

"We saw this as a marriage of resources, granting us access to a bigger brand, bigger story and more marketing power in our own backyard," says Gary Dorfman, Managing Partner. "And the transition has been seamless -- we are excited to represent one of the nation's best financial advisory firms in Santa Barbara."

The deal furthers the case made by some in the industry that RIA to RIA deals are on the upswing. Beacon Pointe expects the volume and relative size of deals to increase over the next several years.

David DeVoe, a strategic consultant to BPWA, points out: "This transaction is a great example of how RIA's are intelligently using M&A to achieve their business goals. Beacon Pointe is leveraging the scale and infrastructure of its $6B business to provide BPWA Santa Barbara with a more concentrated focus on accelerating growth."

Beacon Pointe Wealth Advisors is actively looking to expand and is interested in growth focused, qualified advisors in the $100 to $300M range to join as regional partners. BPWA has set a growth goal of one deal per quarter for the next 10 years and is ahead of pace. BPWA's proactive path to growth benefits clients first and foremost, by empowering partner advisors to provide the best possible, truly fiduciary, custom-built financial models possible. BPWA is in current discussion with many firms, ranging from CA to CO, MA and VA. 

About the Beacon Pointe Family of Companies

Beacon Pointe Wealth Advisors ( is a National Enterprise Building Partnership for a select group of wealth managers/advisors throughout the country. Beacon Pointe Advisors is an independent Registered Investment Advisory (RIA) firm with a mission to provide highly professional, comprehensive, and objective investment and financial advice for both institutions and wealthy families.

BPWA offers joining firms the following benefits, among others:

• Leveraging the Beacon Pointe brand

• Access to Beacon Pointe's proven best practices

• A seasoned compliance team

• A dedicated transition team

• A dynamic and comprehensive investment research department

• A detail oriented reporting department with best-in-class software

• Marketing and PR strategy and implementation

• Immediate, significant growth

• Enhanced enterprise value

• Security via a built-in succession plan

More about Beacon Pointe Advisors:

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