The Partnership marks Beacon Pointe's first Acquisition with a Bank Referral Relationship
NEWPORT BEACH, Calif., Aug. 24, 2022 /PRNewswire/ -- Beacon Pointe Advisors ("Beacon Pointe") has just closed another merger, this time heading back to Texas securing Benchmark Private Wealth Management ("Benchmark Private Wealth"), which has brick and mortar offices located in Dallas and Waco and serves the greater DFW, Plano, Austin, Waco and Houston marketplaces.
Benchmark Private Wealth Management is unique to previous Beacon Pointe acquisitions in that it is the first time procuring a wealth advisory group initially connected to a bank. Beacon Pointe will maintain a professional third-party referral relationship with Benchmark Bank to provide wealth management, investment advisory, and financial planning services to clients of the bank. With over $600M in assets under management, Benchmark Private Wealth marks Beacon Pointe's fourth acquisition in Texas and the third in the state within the last year, following the acquisition of Rosenthal Retirement Planning in Fort Worth in October 2021 and Wealthstreet Investment Advisors in Dallas in April 2021.
"We start every client and business relationship with trust, integrity, respect, and family," shares Wayne McCullough, former President and Managing Partner of Benchmark Private Wealth, now Partner, Managing Director of Beacon Pointe, "and Beacon Pointe reflects these same core values. Since the day I stepped into the financial services industry I believed in a client-first, employee-second and shareholder-third mentality. This belief system has always served us well and kept our clients' needs at the forefront of our team. By joining Beacon Pointe, we now can take that client service standard to the next level thanks to Beacon Pointe's back-office support in the areas of planning, compliance and operations that will only enhance our service efficiencies."
The newest Beacon Pointe team is led by Wayne McCullough, Keith Ferguson, Allen Ferguson, and Rawles Bell who have all become partners at Beacon Pointe Advisors. They are joined by four professional team members, Jamie Montgomery, Skylar Ricard, Olivia Costanza and Webb Mulligan.
A veteran of the financial services industry, Wayne C. McCullough, CFP®, has over twenty years of experience serving high-net-worth individuals and families. A sixth-generation Texan, Wayne received his bachelor's degree from the University of Texas and holds the Certified Financial Planner™ (CFP®) designation.
Keith Ferguson has over four decades of experience in the wealth management industry. He began his own practice, Ferguson Wealth Management Group, in Waco, TX serving as Managing Principal before merging his practice with Benchmark Private Wealth Management. Keith graduated from Baylor University with a degree in Business Administration and is a member of St. Mark Lutheran Church, the Rotary Club of Waco, and the Waco Business League.
With over a decade of experience in the financial services industry, Allen Ferguson began his career at Wells Fargo before joining Ferguson Wealth Management Group as a financial advisor. He then transitioned to an Associate Partner role at Benchmark Private Wealth Management. Allen received his bachelor's degree from the University of Texas and his MBA from Baylor University with a concentration in Finance. Additionally, he is a Certified Financial Planner™ (CFP®) professional.
Rawles Bell, CIMA®, began his career as a financial advisor at RBC Wealth Management before moving to a client advisory role and Associate Partner at Benchmark Private Wealth Management. Rawles graduated from Texas A&M University with a degree in Finance and Economics and is a Certified Investment Management Analyst® (CIMA®) professional.
"Beacon Pointe has seen considerable activity in Texas over the past year and each new team that has joined has shown time and again that they have an intentional dedication to their clients," comments Shannon Eusey, CEO of Beacon Pointe Advisors. "We're excited to welcome this new team to the Beacon Pointe family, as their mindset and culture deeply align with the values that we hold dear."
"Beacon Pointe now totals five offices in north Texas which really helps us build density in the Dallas-Fort Worth metro area. I have known the Benchmark team for five years and we are pleased they are now members of Beacon Pointe Advisors – they will bring a great energy to our growth efforts in DFW and the entire state of Texas. They are top notch professionals," states Matt Cooper, President of Beacon Pointe Advisors.
The transaction formally closed on June 30, 2022. Financial terms of the transactions were not disclosed.
Shannon Eusey, Matt Cooper, and Wayne McCullough are available for interviews upon request.
Beacon Pointe Advisors is a multi-billion-dollar 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 through our proprietary allWEALTH® approach. 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.
SOURCE Beacon Pointe Advisors