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Beacon Pointe Advisors says it is adding two more wealth management practices that will expand its presence in Southern California and the Midwest.
The first addition is based in Carlsbad, California Duncan Financialwhich is led by Charles Duncan, a more than 35-year veteran of the financial services industry, according to Beacon Pointe. Duncan Financial oversees more than $300 million, according to the company.
Under the deal, the financial terms of which were not disclosed, Charles Duncan will become a partner and managing director of Beacon Pointe, according to the company.
He is joined by his brother Paul Duncanwho joins as a partner and senior wealth advisor, as well as Jeffrey Mantoani, Ines Conger and Jennifer Mintsaid Beacon Pointe.
Additionally, Beacon Pointe added the Indianapolis-based company Goldstein Group Financial Advisorsfounded by Helene Goldsteinwho joins Beacon Pointe as a managing director and partner, according to the company.
Goldstein has also been in the industry for more than 35 years, and his company currently manages more than $250 million, Beacon Pointe says.
The companies also did not disclose the terms of the agreement.
Beacon Pointe made several acquisitions in 2021, bringing in billions of dollars in assets.
And in November, Beacon Pointe announcement this private equity firm KKR acquired more than 50% of the company, with the investment planned for new office openings and acquisitions. With the most recent additions, Beacon Pointe has 37 offices in 17 states and oversees approximately $26 billion in assets under deliberation, according to the company.
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