Beacon Pointe Advisors has purchased ACT Wealth Management, an advisory practice with operating bases in Allen, Texas, and Raleigh, North Carolina.
Financial details of the acquisition were kept confidential.
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The transaction absorbs roughly $637m in assets under management from ACT.
This raises Beacon Pointe’s total assets under advisement to approximately $71bn.
Daniel Archer, Jr., Brennan Cross, and Ray Tanner, Jr. established ACT in 2010 to serve high-net-worth clients across the country.
A core component of the business concentrates on flight crew members, airline pilots, and their households.
The firm’s partners have maintained client connections in this industry sector since 1996.
ACT’s remit centres on advising aviation personnel on financial choices prior to and during retirement.
Its work involves reviewing airline retirement plans, evaluating the timing of early versus normal retirement, and structuring distributions, required minimum distributions, and Roth IRA conversions.
Following the acquisition, ACT’s individualised planning process will be incorporated into Beacon Pointe’s allWEALTH framework, combining investment management with broad wealth planning.
Dan Archer said: “Beacon Pointe gives us the resources and expertise to do exactly that while preserving the personal relationships and dedicated service that have always defined ACT Wealth Management. We’re excited about what this means for the families we serve and for the next chapter of our firm.”
Beacon Pointe is supported by an operational base of over 850 staff across more than 95 offices nationwide.
Beacon Pointe CEO Matt Cooper said: “ACT brings experience with a client community whose retirement decisions require a close understanding of both employer benefits and broader family priorities.
“That perspective complements our comprehensive approach to wealth management. We see an opportunity to support the team’s specialised work while bringing additional planning and investment resources to the individuals and families they serve.”
