Beacon Pointe Acquires $2.7B RIA From Paris-Based Asset Manager

Core Insights - Beacon Pointe Advisors has completed its first acquisition of the year by acquiring Litman Gregory Wealth Management, which was previously owned by iM Global Partner [1][2] - The acquisition increases Beacon Pointe's assets under advisement to $61 billion, bolstered by multiple deals in the previous year [3] - Litman Gregory specializes in high-net-worth individuals and families, enhancing Beacon Pointe's expertise in financial planning and risk management [4] Company Overview - Litman Gregory Wealth Management, founded in 1987, has grown to manage $2.7 billion in assets and has a staff of 18 [2] - The firm has offices in Larkspur, Walnut Creek, California, and St. Louis, marking Beacon Pointe's first presence in Missouri [4] - The acquisition adds significant talent to Beacon Pointe, including five Certified Financial Planners (CFPs), two Chartered Financial Analysts (CFAs), and one Certified Divorce Financial Analyst (CDFA) [7] Strategic Implications - The deal reflects a trend in the financial advisory industry where acquiring talent and expertise is becoming increasingly competitive [7] - Beacon Pointe's management team, including CEO Shannon Eusey, maintains majority ownership, while private equity firm KKR holds a minority stake [3] - The acquisition may allow Litman Gregory to continue collaborating with iM Global on investment offerings, indicating a strategic partnership [5][6]