Beacon Pointe Advisors co-founder Shannon Eusey is stepping aside as CEO and transitioning to a new role as company chair, the registered investment advisor announced Wednesday. The KKR-backed firm named Matthew Cooper, president, to the CEO spot.
Eusey led the growth of Beacon Pointe into a top advisory platform with her strategic vision, operational excellence and an ability to inspire advisors, employees, and clients, the firm said. Among the nation's largest RIAs, Beacon Pointe had about $60 billion in assets under management and $1.5 billion in assets under advisement as of Jan. 30.
"I am excited to step into the role of chair of the board and to continue serving in a new capacity that allows me to focus even more on vision, governance and strategic stewardship," she said. "Beacon Pointe's strength has always been its people and its foundation of fiduciary responsibility. This transition is a thoughtful and personal decision, and I look forward to supporting Matt and our exceptional leadership team as Beacon Pointe enters its next chapter."
Over 15 years as president, Cooper played a key role in shaping Beacon Pointe's growth strategy, leading acquisitions that have expanded the firm's national presence, the RIA said.
"It is a privilege to assume the role of chief executive officer and build upon the extraordinary foundation Shannon has created. Her vision, integrity, and leadership have shaped Beacon Pointe into the firm that it is today. I look forward to continuing to further our mission of delivering independent, client-first advice while driving thoughtful growth and innovation alongside an outstanding team of leaders across the organization," Cooper said.
Eusey will work closely with Cooper to facilitate a smooth transition, which formally takes place on May 1, a firm spokesperson told ThinkAdvisor on Thursday.
Shannon Eusey and Matthew Cooper. Courtesy photo
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