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November 24, 2020

Beacon Pointe expands US reach through combination with CBD Wealth Management

By Verdict Staff

California-based wealth advisory firm Beacon Pointe Advisors has merged with Louisiana-based peer CBD Wealth Management, adding $690m in assets to its books.

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  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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Financial details of the deal, which is said to be Beacon Pointe’s largest till date, were not disclosed.

CBD offers its services to clients across the entire state of Louisiana.

As part of the deal, the firm’s 11-member team including its partners, Rocky Daigle, Bobby Comeaux, and Walter Bond has joined Beacon Pointe.

Daigle, Comeaux and Bond will serve as managing directors and partners at Beacon Pointe.

Commenting on the development, Bond said: “Joining Beacon Pointe, ranked by Barron’s as one of the top 30 RIA firms in the nation, will give us access to enhanced resources, including a larger investment management team, a broader financial planning department, and enhance our management of 401(k)s and other retirement plans, all resulting in a better experience for our clients.”

Beacon Pointe partner and president Matt Cooper added: “This merger in the NOLA region showcases Beacon Pointe’s drive for growth and continued national expansion entering another key geographical area of the country to be closer to clients and further expand our footprint.”

The merger with CBD is the second deal for Beacon Pointe this year since its strategic alliance with minority investor Abry Partners.

In 2015, Beacon Pointe acquired TPW Financial, a $300m wealth management firm, in a move to boost its presence in the East Coast.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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