On January 18, 2022, Beacon Pointe Advisors, LLC announced that it had acquired five Registered Investment Advisors (“RIAs”).
Under the terms of the transactions, Beacon Pointe Advisors, LLC (“Beacon Pointe”) acquired Next Generation Wealth Management (“Next Generation”), Century Wealth Management (“Century”), Southern Trust Financial Planning (“Southern Trust”), Newport Wealth Strategies (“Newport”), and Retirement Planning Specialists (“RPS”). Certain members of each RIA will join the Beacon Pointe team. Specific terms of each transaction were not disclosed. In total, Beacon Pointe completed 14 acquisitions in 2021.
Beacon Pointe, based in Newport Beach, California, is a registered investment adviser that helps clients determine investment goals, establish asset allocation guidelines, evaluate fund performance, screen investment managers for selection, and develop strategic financial plans. Beacon Pointe has roughly $25 billion in total client assets.
Next Generation, based in Milwaukee, is an RIA with approximately $405 million in assets under management.
Century, based in Memphis, is an RIA with approximately $441 million in assets under management.
Southern Trust, based in Sarasota, Florida, is an RIA with approximately $405 million in assets under management.
Newport, based in based in Irvine, California, is an RIA with approximately $385 million in assets under management.
RPS, based in Greenwood Village, Colorado, is an RIA with $229 million in assets under management.
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