Beacon Pointe adds $1.35B across three RIAs, passing $70B

Beacon Pointe Advisors disclosed three acquisitions on Tuesday that add about $1.35 billion in client assets and carry the firm past $70 billion, InvestmentNews reported.

WorthPointe Financial Planners, with offices in California and Texas, oversees about $1 billion. Silver Lake Capital Partners of Dallas advises on about $200 million for individuals, families, foundations and retirement plans. R Meier Wealth Management of Fort Atkinson, Wisconsin, advises on roughly $150 million and has worked with local families for more than three decades.

Two of the three sellers quoted in the report cite the platform they are joining — resources, technology, a home office — rather than a price.

Waverly's agreement to buy Heartwood Wealth Advisors, a Richmond RIA with roughly $1.7 billion in assets, was bigger than all three of Beacon Pointe's deals combined, per our September coverage. That month, deal counts fell 19% in a week.

Beacon Pointe reports more than 850 employees across more than 90 offices, and these deals were disclosed under Matt Cooper, who succeeded Shannon Eusey as CEO in February after 15 years as president.

Wealthspire's Ground Control Business Management division picked up Atlantic Swiss, a London private wealth manager with more than $1 billion in assets under management and administration.

The report calls it Ground Control's third overseas transaction in roughly two years, following June's acquisition of Arena Wealth. Atlantic Swiss works mainly with clients in the U.K. and Western Europe, many of them in film, television, sports, music and fashion, and markets a "family CFO" model.

Wealthspire launched a $2.9 billion sports and entertainment practice inside its family office on October 6, as we reported.