Beacon Pointe Advisors Bridges New Opportunities Through Further Acquisitions
$460M Bridge Advisory and $140M Charleston Investment Advisors Acquired by Beacon Pointe, Amplifying Southern California and South Carolina Presence
NEWPORT BEACH, Calif., Oct. 1, 2024 /PRNewswire/ -- Beacon Pointe Advisors ("Beacon Pointe") unveils its latest acquisitions of Bridge Advisory with offices in Pasadena, CA, and Newport Beach, CA, and Charleston Investment Advisors in Mt. Pleasant, SC. Bridge Advisory currently oversees approximately $460M and Charleston Investment Advisors manages $140M in client assets, bringing Beacon Pointe's total assets under advisement to just shy of $37B, resulting in four total RIA transactions in 2024 thus far.
Bridge Advisory is a wealth management firm with an over 35-year legacy in Southern California and an advisory team boasting 130 years of investment experience. Their seasoned team serves clients spanning four generations across the country by providing comprehensive wealth management services, including financial and retirement planning, investment management, and strategies that build, preserve, and protect client wealth. Led by Dave Penniall and Vanessa Burnett, both of whom will become Beacon Pointe Partners, the Bridge Advisory team joining Beacon Pointe consists of 10 dynamic team members. Many of Bridge Advisory's seasoned professionals are former collegiate and professional athletes, similar to Beacon Pointe, exemplifying a purpose-driven approach, genuine commitment to client relationships, and a great culture fit. Their leadership also has a strong female presence, which will integrate smoothly into Beacon Pointe's Women's Advisory Institute.
Partner Dave Penniall highlights how "Bridge Advisory was founded many decades ago on the concept that a financial advisory firm must put its clients first, above all else. The Beacon Pointe corporate leadership team, advisor teams, and their expansive quality of services are exceptional. Everyone we have worked with is extremely capable, experienced, and dedicated to the same principles that Bridge Advisory was founded on. With the many changes impacting our industry, and to continue in our mission, Bridge Advisory needed to find a partner with this same culture and client-first priority. We found that in Beacon Pointe and are elated about the future for our clients and team."
"Dave and I have always led with a client-first passion, always taking our role as fiduciaries to the highest level," says partner Vanessa Burnett. "What we saw in Beacon Pointe, across both their partner offices and in their corporate leadership, met that culture and commitment to clients and to their team – it just felt like a great fit. Beacon Pointe is going to allow our Bridge Advisory team to do what we do best, which is to help clients and their families preserve and grow their wealth for generations to come. The back-office efficiencies of scale that have become so critical to our industry will help our clients experience better, faster, more efficient service, and help our team continue to thrive and grow. We couldn't be more excited to continue the legacy of Bridge Advisory at Beacon Pointe."
Charleston Investment Advisors offers a comprehensive approach to investing for high-net-worth individuals, their families, and businesses. The small but mighty firm, founded by Stephanie W. Mackara, JD, empowers family-oriented and value-driven leaders to build generational wealth and holistic abundance. Similar to Beacon Pointe's founder, Shannon Eusey, she prioritizes financial literacy and promotes economic education, which inspired her to write a book in 2020, Money Minded Families, that helps parents learn how to leverage teachable moments to instill financial proficiency in their children. As Stephanie joins the Beacon Pointe team as a partner, she and her team will help provide clientele with the confidence to create a more secure financial legacy. Stephanie emphasizes how "Trust is the foundation of any successful relationship. I trust the team at Beacon Pointe and know that our clients and our firm will greatly benefit from their deep talent and resources. Our focus on building, growing, and enhancing the generational wealth of our clients will be fully realized at Beacon Pointe, and we look forward to bringing these solutions to Charleston and beyond."
CEO and founder of Beacon Pointe, Shannon Eusey, shares that "These integrations feel effortless, rooted in our shared values and vision. The Bridge Advisory team's local knowledge, strong client presence, athlete-driven discipline, and Charleston Investment Advisors' women-led governance and personalized client-service process make this move a natural progression."
"Dave, Vanessa, and their team have already been a pleasure to work with and have proved themselves to be a dominant player in the industry, specifically in the Southern California market," states Matt Cooper, Beacon Pointe President. "Stephanie will not only mesh well with our group but will become a precious asset and bring tremendous strength to our overall growth for our Charleston team."
The Bridge Advisory acquisition formally closed on September 30, 2024, and the Charleston Investment Advisors transaction will close during the fourth quarter of 2024. Hue Partners advised Bridge Advisory on the transaction. The financial terms of both deals were not disclosed.
Representatives from Beacon Pointe Advisors, Bridge Advisory, and Charleston Investment Advisors are available for interviews upon request.
About Beacon Pointe Advisors:
Beacon Pointe Advisors is the nation's most prominent female-led registered investment adviser (RIA), with offices and clients located nationally. Clients have long relied on Beacon Pointe's professional advisors to help determine investment goals, establish asset allocation guidelines, screen investment managers for selection, evaluate fund performance, and develop strategic financial plans through our proprietary allWEALTH® approach. Our advisors' extensive expertise and solid commitment to our clients can be seen through numerous awards, including recognition from Barron's, Forbes, Citywire Magazine, Financial Advisor Magazine, and more. For more information on Beacon Pointe's wealth advisory services, please visit www.beaconpointe.com.
Media Contact:
Alli Warner
(949) 718-1634
[email protected]
SOURCE Beacon Pointe Advisors
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