In other developments, Beacon Pointe Advisors has made a number of acquisitions within the wealth sector this year, part of a wider M&A trend.

Newport Beach-headquartered Beacon Pointe Advisors has hired former Advisor Group (now called Osaic) figure Jon Frojen as its new chief financial officer. Since 1985, Frojen has held leadership positions, including CFO, vice president and managing director, across a number of companies.

The previous CFO was John Gray, who is now the firm's chief accounting officer, a spokesperson confirmed to FWR when asked.

Frojen spent the last 15 years as CFO at United Capital Financial Advisors (an independent RIA acquired by Goldman Sachs in 2019), Osaic and Cetera, both of which serve the independent financial advisor market. He holds a master of business administration from the University of Southern California and a bachelor of arts in economics from the University of California, Berkeley.  

In early October, Beacon Pointe Advisors acquired Bridge Advisory, a firm with offices in Pasadena and Newport Beach, California, and Charleston Investment Advisors in Mt Pleasant, South Carolina. The firm has made a number of transactions in 2024, taking assets to management to around $37 billion.