Beacon Pointe Advisors Acquires Another Wealth Manager

Amanda Cheesley

19 December 2024

WhiteRock Wealth Management, a family-owned RIA managing $263 million in assets under management, has been sold to Beacon Pointe Advisors, which has inked a number of acquisitions in recent years. Beacon Pointe has more than $36 billion in assets under management.

WhiteRock Wealth Management, located in Dallas, specializes in financial planning including tax and estate planning, retirement savings, estate preparation, and broader spending guidance.

Financial terms weren't disclosed.

San Francisco headquartered DeVoe & Company, an M&A consulting firm serving the wealth management industry, advised White Rock on the transaction.

“The depth of Beacon Pointe’s infrastructure will allow our multi-generational clients to benefit from their comprehensive, personalized wealth management services,” David Gurun, president and CIO of WhiteRock said.

“The WhiteRock team is a wonderful addition in the booming Dallas-Fort Worth marketplace that continues to be a key area of growth for Beacon Pointe,” Shannon Eusey, Beacon Pointe’s CEO and founder, added. “This is our seventh acquisition in the Lone Star state; together, we’re positioned to provide an even higher level of personalized service and meet the exciting demand of local client growth,” she said.

“We are thrilled to have supported WhiteRock in identifying the ideal partner to help drive their next phase of growth,” said David DeVoe, Founder and CEO, DeVoe & Company. “This partnership with Beacon Pointe reflects the incredible value WhiteRock has built over the years and their strong commitment to their clients and team. By aligning with Beacon Pointe, they are well-positioned to enhance their capabilities and continue delivering exceptional service while achieving their long-term strategic goals,” he added.

According to DeVoe, M&A transactions involving RIAs rose in the third quarter of 2024 from the previous three months and have held steady versus where they were a year ago, defying economic volatility and a sign of consolidation momentum. The firm reported that there were 65 transactions in Q3 2024; data shows that M&A activity is tracking slightly ahead of 2023 year-to-date. See more commentary here.

In 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.