Beacon Pointe Advisors Finishes Strong in 2022, Keeps the Ball Rolling in 2023

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Mar 01, 2023, 09:00 ET

Five Firms Choose Beacon Pointe as Their RIA Partner

NEWPORT BEACH, Calif., March 1, 2023 /PRNewswire/ -- Beacon Pointe Advisors ("Beacon Pointe") announced that it had completed five RIA acquisitions over the last three months, with three deals closing at the end of 2022 and two closing in the early months of 2023. Midwest Financial Advisor Group, Nexus Wealth Advisors, Pinnacle Wealth Management, Ailsa Capital, and Bennicas & Associates, Inc. have become Beacon Pointe's newest regional offices in new and existing marketplaces. These offices extend Beacon Pointe's footprint to additional states, including Illinois, Michigan, and Utah.

With these new partners, Beacon Pointe has added approximately $1.5 billion in acquired assets under management. The firm now has approximately $25 billion in assets under management and 46 offices nationwide.

"Coming off of a busy year of M&A activity in 2021, it was great to keep that same momentum in 2022," shares 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."

With two office locations in Skokie, Illinois, and Bloomfield Hills, Michigan, $300M AUM Midwest Financial Advisor Group ("Midwest") will become Beacon Pointe's inaugural representation in both states. Husband and wife duo Heather O'Neill Fairbanks, CFP^®, ChFC^®, and Isamu Fairbanks, MBA, lead the five-person team, serving clients in the greater Chicago region.

"A big part of what we were looking for when searching for the right partner was a firm that could provide us the back-office support and resources we needed while still fostering a sense of community and culture that we aligned with," comments Heather O'Neill Fairbanks, Founder and Managing Partner at Midwest. "Those elements paired with initiatives of Beacon Pointe's Women's Advisory Institute is what truly drew us into the firm."

Adding to an already expansive foothold in the Denver, Colorado region, Pinnacle Wealth Management ("Pinnacle") joins Beacon Pointe with $155M in assets under management. President Tom Stefaniak, CFP^®, will be joining Beacon Pointe as a managing director, bringing six professional staff members with him.

"I was fortunate to have heard about Beacon Pointe through an existing partner at the firm," shares Tom Stefaniak, President, and Wealth Advisor at Pinnacle. "From those early conversations to being fully integrated into the culture at Beacon Pointe, I know we made the right choice. We're excited to begin leveraging the robust platform and technology Beacon Pointe has cultivated over the years."

Not far from their Rocky Mountain neighbors, Ailsa Capital ("Ailsa") will become Beacon Pointe's first office in the state of Utah. John Martindale, CFP^®, comes aboard as a managing director, bringing three professional staff members with him.

"The depth of Beacon Pointe's service offerings, particularly from a client standpoint, was what truly drew us into the firm from the outset," comments John Martindale, Managing Partner at Ailsa Capital. "That, paired with established back-office services that would enable us to spend more time with our clients, was one of the main drivers of our decision to partner with Beacon Pointe."

With $240M in assets under management, Bennicas & Associates, Inc. ("Bennicas"), located in Portola Valley, CA, will be joining forces with one of Beacon Pointe's existing Bay Area office locations, making this the third partnership for Beacon Pointe in the Bay Area. Founder Georgia Bennicas will join Beacon Pointe as a partner and senior wealth advisor, along with longtime advisor Michael Dunn and two additional professional staff members.

"Having operated independently for the last 30 years, we realized now was the right time to find a partner we could not only grow with but provide our clients longevity with," shares Georgia Bennicas. "We are excited to leverage Beacon Pointe's infrastructure and become integrated into a quality culture and team."

Nexus Wealth Advisors ("Nexus"), located in Santa Cruz, CA, is an extension of Beacon Pointe's existing Bay Area office in Campbell, CA. Nexus founder Lance Wexler and his team will continue serving clients in the Santa Cruz County and South Bay Area.

"Beacon Pointe genuinely embodies the 'client first' ideology underpinning Nexus," shares Lance Wexler. "I am thrilled to increase my capacity to focus on clients while leveraging Beacon Pointe's prodigious resources and back-office support infrastructure to take care of the things that so often ate up my time. This merger catalyzes our mission to help people be at peace with their money and deeply satisfied in life."

"We are delighted to have ended 2022 with the addition of such powerhouse teams," said Shannon Eusey, Beacon Pointe CEO. "We are further solidifying our presence in the Midwest and grounding our roots in Northern California. We are excited to do even more in 2023, weaving like-minded partners and professionals into the fabric of Beacon Pointe."

The financial terms of the aforementioned deals were not disclosed.

Representatives from Beacon Pointe and the respective partner RIAs are available for interviews upon request.

About Beacon Pointe Advisors:
Beacon Pointe Advisors is the largest female-led registered investment adviser (RIA) in the nation, headquartered in Newport Beach, California, with office locations 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, Financial Advisor Magazine, CNBC, and more. For more information on Beacon Pointe's wealth advisory services, please visit: www.beaconpointe.com and on Twitter @BeaconPointeRIA, LinkedIn, Facebook, and Instagram @BeaconPointeAdvisors.

Media Contact:
Sara Drake
Senior Marketing Associate
(949) 478-7425
[email protected]

SOURCE Beacon Pointe Advisors