A private-equity firm, Abry Partners, has made a minority investment in Beacon Pointe, a Newport Beach, Calif.-based registered investment advisory firm.
The investment, whose terms were not disclosed, will facilitate the merging of Beacon Pointe’s two RIAs — Beacon Pointe Advisors and Beacon Pointe Wealth Advisors — into a single RIA called Beacon Pointe Advisors.
Abry’s investment will also support continued acquisitions by Beacon Pointe. The RIA announced Monday that it has acquired Ferrell Wealth Management of Orlando, Fla., which has more than $460 million of assets under management. With this transaction, Beacon Pointe has 16 offices and more than $11.5 billion in AUM.
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