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Wednesday, Aug 17, 2022
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Beacon Pointe Acquires Two Firms

Newport Beach-based Beacon Pointe Advisors has acquired two wealth management firms that add about $620 million in client assets.

It acquired CDA Group LLC, a Greenville, South Carolina wealth management firm with approximately $510 million in client assets, and Essex Wealth Management, a Vero Beach, Fla.-based firm with $110 million AUM.

CDA Group represents Beacon Pointe’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,” Chief Executive Shannon Eusey said in a statement. “These are extraordinary times, and I cannot wait to see how together we are able to serve our clients even better through our partnership.”

Eusey in 2002 started Beacon Pointe, which now has $12.6 billion in assets under advisement and more than 17 offices across the U.S. Eusey last year told the Business Journal the firm intends to expand to 50 offices nationwide.

Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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