Beacon Pointe Advisors, a leading RIA based in Newport Beach, California, has acquired DMJ Wealth Advisors, a $610 million firm with offices in Greensboro, Durham, Sanford, and Wilmington, North Carolina. DMJ Wealth Advisors, which evolved from the accounting firm DMJ & Co., will continue its partnership with the CPA firm while focusing on financial planning and investment management under Beacon Pointe. This acquisition follows Beacon Pointe’s recent expansion in Texas, including its $230 million purchase of D.R. Saur Financial and its first $1 billion-plus deal with Wealthstreet Investment Advisors.
The firm has now completed seven acquisitions in five months, adding more than $3.6 billion in client assets, reflecting the growing consolidation in the RIA sector. CEO Shannon Eusey says these deals position Beacon Pointe to better serve clients and strengthen its national presence amid a record-setting quarter for RIA M&A activity, according to Echelon Partners…