Beacon Pointe Advisors, a Newport Beach, Calif.-based registered investment advisor, has grown its client asset base to about $55 billion with its acquisition of Hemington Wealth Management, a Falls Church, Va.- and Chicago-based RIA with about $1.2 billion in client assets. This represents Beacon Pointe’s 12th deal this year, and its fifth female-led team.
Hemington focuses on serving high-net-worth women. The 16-member team is led by Eileen O’Connor and Jen Dawson.
“From our earliest conversations, it was clear that Beacon Pointe shares our passion for empowering women and delivering thoughtful, values-driven advice,” Dawson said in a statement.
This follows news from last month that Beacon Pointe acquired The Family Firm, another female-led firm with $857 million in assets based in Bethesda, Md. Also last month, the RIA made a deal with Waltham, Mass.-based Sensible Financial Planning, with $944 million in AUM, in a push to continue expanding on the East Coast.
In July, it announced the completion of a six-deal acquisition spree in 60 days that added $2.7 billion in client assets. Beacon Pointe now has more than 650 employees and over 80 offices nationwide.
Beacon Pointe is the country’s largest female-led RIA, with Shannon Eusey at the helm as CEO. The firm is also backed by private equity giant KKR, which announced its investment in November 2021.
Advisor Growth Strategies advised Hemington on the transaction.