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Company Details
Beacon Pointe offers comprehensive financial planning and research-based investment services, enabling clients to make well-informed strategic decisions. As the nation's largest female-led Registered Investment Advisory (RIA) firm, they serve institutions, defined contribution plans, individuals, and families. Beacon Pointe Advisors, LLC was founded in 2002 by Shannon Eusey and Garth Flint. The firm started as an individual single-location Registered Investment Advisor (RIA) and has grown significantly through both organic growth and strategic acquisitions. The mission of Beacon Pointe is to provide comprehensive and objective investment advice and financial planning services, focusing on asset preservation and growth through sophisticated investment strategies. The firm has more than tripled in size over the past five years and doubled in the past 18 months. Since 2011, Beacon Pointe has acquired over 40 firms and now operates more than 60 locations across the country.
Beacon Pointe Advisors positions itself as a sophisticated wealth management firm that emphasizes a comprehensive and holistic approach to financial planning and investment management. The Beacon Pointe story and planning approach to clients is rooted in their process called the "All-Wealth Process". Beacon Pointe helps clients align their wealth to what matters most while providing access to institutional quality investments, life and legacy planning, and impact initiatives.
General Investment Philosophy Beacon Pointe Advisors began 20 years ago as an institutional consulting firm for foundations and endowments, which informs their approach to managing private client money in an institutional fashion. They focus on producing the highest quality investment process through manager selection and tactical asset allocation. Their process is rigorous, involving quarterly reviews of the macroeconomic and asset allocation environment to adjust portfolios accordingly. The firm emphasizes a client-first, team-second, and owners-last philosophy.
Investment Implementation
- Model Portfolios and Customization: Beacon Pointe offers both model portfolios and customized, bespoke portfolios. They use a blend of manager selection and tactical asset allocation, with a rigorous quarterly review process to adjust portfolios based on macroeconomic and asset allocation environments.
- Management Approach: Beacon Pointe uses a combination of in-house management and external managers. They have a centralized trading platform and offer model portfolios with flexibility for customization.
- Investment Options: The platform includes third-party allocated assets, separately managed accounts, mutual funds, individual securities, and alternative investments such as real estate and hedge funds.
The investment team led by CIO Micael Dow, CAIA,CFA, includes professionals with expertise in equity research, fixed income research, and alternatives investments research. The team is structured to handle portfolio management, research, and trading.
Support Provided: Beacon Pointe offers a collaborative environment where partners can join the quarterly investment process and have a strong voice in portfolio construction. They provide a comprehensive integration and transition process, including training programs around custodial referral programs and their investment processes.
- Direct Access: Advisors have direct access to the investment team for questions and insights.
- Feedback and Customizations: There are opportunities for advisors to provide feedback and request customizations for specific client needs.
- Meetings and Webinars: Quarterly meetings are held for advisors to discuss investment strategies and market updates.
Locations
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Acquisition Model
Full Acquisition
Yes, BPA requires all partners to roll a portion of their consideration into BPA equity. While the range is negotiable, they feel strongly that equity ownership amongst the partners is crucial for alignment.
Yes
Max Cash:80%
Max Equity: 75%
Beacon Pointe is flexible in modifying their standard cash or equity allocation ranges for partners however does require all partners to roll a minimum equity percentage of ~ 20% to ensure alignment between the parties.
Standard retention terms is 20-30% retention payment in 12-24 months.
The Managing Director’s compensation model applies to advisors who manage a minimum of one million dollars in revenue. This compensation program has three components: a salary of $300,000, a new business bonus of 40% of revenue growth over a 110% highwater mark revenue, and a bonus pool of 6% of net revenue.
Mandatory Points of Alignment
Beacon Pointe believes in a unified brand and encourages advisors to leverage this on day one. Beacon offers flexibility to maintain a local presence and explore unique opportunities at scale, leveraging a centralized marketing team. "Adopting the Beacon Point brand day one, really does allow us to help our new partner offices scale their business based on the best practices that we've been developing for the last, 20-plus years that we've been doing this here at Beacon Point.
To scale the business effectively, Beacon Pointe asks all partners to adopt their technology and systems.
The P&L will be managed centrally, however with collaboration, Beacon Pointe will work with its partners to manage an annual budget.
Beacon Pointe has a branded client experience called the allWEALTH®️ approach; this experience addresses all aspects of the client's financial well-being. Beacon Pointe would like advisers to adopt this client experience process but does not require it. "The all-wealth experience is all about aligning our client's life with their wealth."
Beacon utilizes Growth Strategic Mapping to maximize staff roles and responsibilities. Through this, Beacon can help its partners get the right people into the right seats.
Leadership prefers that partners divest portfolio management to the central team, however, this is not required. New partners can maintain their own models (subject to compliance oversight) but must centralize trading functions.
Advisor Value Proposition
Beacon Pointe Advisors exists first and foremost for our advisor partners and their clients. They are a successful operating RIA, not a financial or model consolidator. Beacon Pointe Advisors offers a collaborative partnership model for advisors seeking to scale their businesses, ensure continuity for clients, or transition their practice through acquisition. The firm emphasizes its status as an advisor-focused RIA, providing operational support, growth opportunities, and a seamless succession pathway while preserving the entrepreneurial spirit of its partners.
Certainty and Succession Planning
- Succession Security: Beacon Pointe ensures retiring advisors can transition their business smoothly, with a commitment to purchasing the advisor’s remaining equity at fair market value, offering financial certainty for their exit.
- Legacy Preservation: The firm prioritizes continuity of client relationships and ensures that the values and culture of the advisor’s practice are upheld post-acquisition.
Growth and Scalability
- Operational Efficiencies: Advisors gain access to Beacon Pointe’s extensive back-office infrastructure, including compliance, marketing, technology, and financial operations, allowing them to focus more on serving clients.
- Enhanced Lead Flow: Through partnerships with leading custodians and retail referral programs, Beacon Pointe helps advisors expand their client base and grow assets under management.
Entrepreneurial Alignment
- Equity Ownership: Advisors maintain a significant equity stake, aligning their incentives with the long-term success of the firm.
- Collaborative Culture: Partners benefit from being part of a community of like-minded professionals focused on client-first fiduciary excellence.
Advanced Resources and Technology
- Financial Planning Tools: Advisors gain access to cutting-edge tools and resources that enhance client service and streamline portfolio management.
- Marketing and Social Media: Beacon Pointe’s in-house marketing team assists with branding, outreach, and digital campaigns tailored to advisors’ unique needs.
Advisors who join Beacon Pointe cite the firm’s ability to deliver operational support, growth opportunities, and client continuity while preserving their legacy. With its commitment to advisor autonomy and client-first fiduciary care, Beacon Pointe offers a compelling platform for advisors looking to secure their future and elevate their practice.
Beacon Pointe used to offer a centralized team, but has found advisors prefer to have a paraplanner in the local office.
All offices benefit from centralized compliance, HR, finance, marketing, and more, to accelerate growth and to spend more time on client-facing activities.
Beyond portfolio management and financial planning, Beacon Pointe provides service and expertise in qualified plans, advanced estate planning, and tax planning, and is launching tax preparation services. For estate planning, Beacon Pointe has six attorneys on staff, one of which is Commie Stevens (Chief Practice Officer), who can provide knowledge about advanced estate planning needs.
Beacon Pointe has an internal marketing team that comes alongside each partner to help develop and execute traditional marketing strategies such as COI, event marketing, social media, and direct mail campaigns. Beacon Pointe has a strong participation in Schwab, Fidelity, and USAA, custodial referral programs. In fact, Beacon Pointe will place a representative in the local market to help drive referrals. They had a second recapitalization event in December of 2021 when KKR valued Beacon Pointe at 24.4x EBITDA. They took on KKR as a capital partner to add like-minded teams and build out their geographical footprint.
Beacon utilizes Growth Strategic Mapping to maximize staff roles and responsibilities to enrich career paths and attract top talent. Practice management is a strength of Beacon Pointe with set titles and structures that promote consistency.
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