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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.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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