Beacon Pointe Advisors Announces Acquisition of CDA Group and Essex Asset Management
Gaining another state to its nationwide atlas, Beacon Pointe seals two additional deals in the same month
NEWPORT BEACH, Calif., Jan. 13, 2021 /PRNewswire/ -- Beacon Pointe Advisors ("Beacon Pointe"), one of the country's largest independent comprehensive wealth advisory firms, wraps up the year announcing two additional mergers involving CDA Group, LLC ("CDA Group"), a wealth management firm with approximately $510 million in client assets, and Essex Wealth Management ("Essex") with $110 million AUM, taking Beacon Pointe's acquisition deal count to three this past month. Essex is based in Vero Beach, Florida currently serving an UHNW client base and brings to Beacon Pointe Kerstin Murphy and Michael Himmel. CDA Group is located in Greenville, South Carolina and represents clients throughout the Carolinas and beyond. CDA Group brings to Beacon Pointe seven team members including three partners Joe Schofield, Kent Giguere and Steven Bright.
"We are excited and proud to partner with Joe, Kent, Steven and their team in Greenville, SC. They embody the collaborative mentality and culture which is Beacon Pointe. Greenville is a dynamic city and an attractive market for wealth management," shares Matt Cooper, President of Beacon Pointe Advisors.
Joe, Kent, and Steven join Beacon Pointe alongside a dynamic and bright team. As CEO of the firm, Joe Schofield has over 26 years of professional experience in advising high net worth families and business owners on investment policy development, portfolio construction, asset allocation, risk management and wealth and estate transfer planning. Kent Giguere, CFP®, ChFC®, is responsible for the firm's approach to developing and implementing strategic planning recommendations for clients while working closely with outside attorneys, accountants, and third-party administrators. Steven Bright has over 10 years of experience assisting individuals and business owners in comprehensive financial planning focusing on risk management and asset protection, with the intention of helping clients achieve their wealth accumulation goals.
When asked what unique offering was attractive about partnering with Beacon Pointe, Joe Schofield stated, "In addition to all of the usually important components of a partnership – ensuring the care of our clients and culture alignment – I wanted to make sure the next generation of our team had a big, bright future, and Beacon Pointe was an ideal partner for making this happen."
Essex owners, Kerstin Murphy and Michael Himmel, CFP®, also join Beacon Pointe and represent the firm's second Florida office. Michael brings a broad array of financial management experience throughout his thirty-five-year career including former roles as Portfolio Manager for BNY-Mellon, Hedge Fund Manager with Lambeth Master Fund, Ltd., Derivatives, Options and Physical Commodity Trader for Sinochem International London, and NYMEX futures broker for Shearson Lehman American Express. Kerstin began her career as an analyst at a hedge fund in New York City and prior to Essex Asset Management, Kerstin was a Portfolio Manager at the Bank of New York Mellon. Kerstin and Michael are joining forces with Beacon Pointe's Winter Park, FL office, an earlier (April 2020) acquisition of Ferrell Wealth Management, expanding coverage throughout the state of Florida.
CDA Group joins Beacon Pointe representing the firm's sixth regional office on the east coast and the fourth merger to close out the year of 2020.
"We are very excited to have CDA Group in Greenville, and Essex in Vero Beach, join Beacon Pointe's collaborative platform of amazing partner offices," said Shannon Eusey, CEO. "These are extraordinary times, and I cannot wait to see how together we are able to serve our clients even better through our partnership."
The CDA Group, Essex, and the recently announced New Orleans-based CBD Wealth Management transactions all closed on 12/31/20. Financial terms of the transactions were not disclosed. Shannon Eusey and Matt Cooper of Beacon Pointe, and the Essex and CDA Group partners are available for interviews upon request.
About Beacon Pointe:
Beacon Pointe Advisors is a registered investment adviser headquartered in Newport Beach, California, with office locations and clients located nationally. Clients have long relied on Beacon Pointe's professional advisors to help determine investment goals, establish asset allocation guidelines, screen investment managers for selection, evaluate fund performance, and develop strategic financial plans. Our advisors' extensive expertise and strong commitment to our clients can be seen through numerous awards, including being recognized by Bloomberg, Forbes, Financial Advisor Magazine, CNBC, Barron's and more. For more information on Beacon Pointe's wealth advisory services, please visit: www.beaconpointe.com.
Media Contact:
Alli Warner
(949) 718-1634
[email protected]
SOURCE Beacon Pointe Advisors
Share this article