Beacon Pointe Wealth Advisors announced on Monday that it has added a fourth rollup to the $5.6 billion firm.
Independent Financial Advisors, based in Riverside, Calif., has $100 million in assets under management. Independent Financial Advisors principals James Valmonte and Teri Parker join BPWA as managing directors and equity partners.
According to Beacon Pointe, the addition of IFA, with a built-in CPA partnership, makes for a “unique transaction” and is a “mutually beneficial growth engine; it provides predictable and sustainable inbound lead flow while providing superior client service.”
“This is a firm poised to grow quickly from $100 million to $250 million, on a trajectory toward $1 billion that we will help them to achieve,” Matt Cooper, president of Beacon Pointe, said in a statement. “Advisors in general are perpetually on the hunt for new business—in this case these guys were sitting on a powder keg of qualified leads and just needed the right partner/catalyst to light the fuse.”