On October 24, 2023, Beacon Pointe Advisors announced the acquisition of Private Capital Management, Inc.
Under the terms of the transaction, Beacon Pointe Advisors, LLC (“Beacon”) has acquired Private Capital Management, Inc. (“PCM”). All financial advisors from PCM will join Beacon. Further terms of the deal were not disclosed.
Beacon, based in Newport Beach, California, is a registered investment adviser offering its services to institutions, individuals, and families. Beacon manages approximately $30 billion in client assets.
PCM, based in Larskpur, California, is a financial advisory firm providing investment advisory, wealth management, and financial planning. As of October 2023, PCM had $200 million in assets under management. Park Sutton Advisors served as financial advisor to PCM on the transaction.
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