NEWPORT BEACH, Calif., Aug. 17, 2021 /PRNewswire/ -- Beacon Pointe Advisors ("Beacon Pointe") has closed another substantial acquisition, partnering with Northstar Investment Advisors ("Northstar") based in Denver, CO. Beacon Pointe Advisors surpasses $20 billion in assets under advisement with the addition of Northstar, which will oversee over $1 billion in assets within the Denver market.
"We felt Beacon Pointe had the most compelling wealth management platform for our clients as we look to expand our financial and legacy planning services. Beacon Pointe also provided us with the ability to access institutional quality investments in areas like impact, ESG, and private equity investing, as many of our clients have a growing interest in these areas," states Charlie Farrell, Northstar CEO. "But most importantly, it was the people at Beacon Pointe that made the difference. We share a common set of values that are focused on doing what's in the best interest of our clients, providing exceptional service, and working with people who care about our clients and their families."
For years, Northstar has operated as a lean and focused business delivering great service and excellent outcomes for its clients. Northstar's decision to join Beacon Pointe was driven in large part by its desire to offer not only additional wealth management services for its clients, but also a clear career path within a large and dynamic organization for its highly skilled team.
"Whether it's portfolio management, planning, operations or compliance, Beacon Pointe has the resources and expertise to train and develop tomorrow's leaders. I'm excited when I encourage our staff to imagine their best professional selves in five years, and we now have the opportunity to make it happen," shares Bob Van Wetter, Northstar co-founder, COO and CCO.
The vibrant Northstar team is led by three individuals – Fred Taylor, Bob Van Wetter, and Charlie Farrell – who will all become partners and managing directors at Beacon Pointe Advisors.
"Our merger and subsequent partnership with Beacon Pointe are game changers for our clients and employees. Beacon Pointe was a perfect fit for us in terms of personalities, long term goals and organizational skills. They also have a very strong commitment to giving back to their local communities as we have for the past 26 years. Their management and staff are as good as it gets in the business. I have not been this excited about my career and future since 1995," states Northstar Co-Founder and President, Fred Taylor.
Fred Taylor has nearly four decades of experience in the financial services industry and began his career in 1984 on the municipal bond trading desk of Mabon Nugent in New York City. Over the course of his career, he worked for various financial institutions prior to founding Northstar Investment Advisors in 1995 to meet demand for wealth management in the Denver area. Fred serves as vice chair of CollegeInvest, Colorado's 529 college savings plan and recently completely a two-year term as chairman of the Children's Hospital Colorado Foundation board. He is also a past board member and chairman of the investment committees of Children's Hospital Colorado Foundation, The Denver Foundation, the Colorado Zoological Trust, the Women's Foundation of Colorado, and Kent Denver School. In recognition of his work with Denver's non-profits, Fred was a recipient of the Denver Foundation's 2017 Philanthropic Leadership Award and a 2019 finalist for the Invest in Others Lifetime Achievement Award. From 2008 to 2010, Fred served as an economic advisor to Colorado Governor Bill Ritter, and he is also a member of the Colorado Forum, a collection of business leaders focused on critical policy issues facing the state. A Colorado native, Fred graduated cum laude from Middlebury College with honors in American History.
Bob Van Wetter is energized by the challenge of helping his clients make sense of a changing world and developing strategies to build and preserve wealth. Bob first started working in the investment industry as a runner on the floor of the Pacific Stock Exchange starting in 1983. Bob co-founded Northstar Investment Advisors in 1995 to better serve individuals and families looking for wealth management services in the Denver area. Bob is a graduate of Dartmouth College and has served on a number of nonprofit boards, including the Colorado Ski Museum, the Children's Museum of Denver, Volunteers for Outdoor Colorado, Denver B-Cycle and the finance committee of the Colorado Health Foundation. He currently serves as chair of the finance committee for the Lutheran Medical Foundation.
Charlie Farrell, J.D., LL.M., focuses on providing the full continuum of personal and family wealth management. Charlie began his career as a tax attorney helping business owners establish and fund corporate retirement plans. While working with owners who eventually retired, Charlie often received questions from clients about how to live off their money during retirement. These conversations ultimately sparked Charlie's desire to work in investment management, prompting him to leave the legal and tax field. Charlie is the author of the book, Your Money Ratios: 8 Simple Tools for Financial Security. He is also the author of a monthly column known as the "Road to Retirement" for the Denver Post and has contributed to numerous industry publications such as The Wall Street Journal, Money Magazine, Consumer Reports Money Advisor and Barron's. Charlie has a bachelor's degree from the College of the Holy Cross in Worcester, MA, and a law degree from The American University Washington College of Law in Washington, D.C., where he graduated summa cum laude. He also holds a Master of Laws (LL.M.) in taxation from the Case Western Reserve University School of Law. Charlie is a former board member of the Mountain Area Land Trust and the Denver Public Library Friends Foundation. Charlie currently resides in Golden, Colorado with his wife, and in his spare time enjoys fly fishing and riding horses.
"We have spoken to many firms in Denver, and we are thrilled to have found our partners with Northstar. They are a mile high now, but the sky is the limit with this incredible group," shares Matt Cooper, President, Beacon Pointe Advisors.
Six additional team members across various portfolio management, operational and client service roles will also be joining Beacon Pointe, John Riecke, Cheryl McDonald, Lexi Schmidt, Jackie Mendoza, Dan McGilvray, and Luis Perez.
Shannon Eusey, Beacon Pointe CEO shares, "We are extremely excited to have a robust presence in the Denver marketplace. Fred, Bob and Charlie have built many long-lasting relationships throughout the entire state of Colorado and beyond, and we look forward to what their team will be able to do now powered by the resources of Beacon Pointe."
The Northstar Investment Advisors transaction closed on August 16th. Financial terms of the transaction were not disclosed.
Shannon and Matt of Beacon Pointe, and Fred, Bob, and Charlie of Northstar are available for interviews upon request.
About Beacon Pointe Advisors:
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