Newport Beach-based Beacon Pointe Advisors has acquired New York-based Edge Wealth Management, a financial advisory firm overseeing approximately $905 million in client assets, bringing the company’s total assets under advisement to about $72 billion.
The acquisition, which closed Oct. 31, expands Beacon Pointe’s presence in New York and adds a team specializing in fixed-income and equity investments for wealthy individuals, institutions and family offices. Financial terms of the acquisition were not disclosed.
“We are excited to welcome a team with a defined investment philosophy and support its next chapter with the breadth of our wealth planning capabilities,” Beacon Pointe CEO Matt Cooper said.
Beacon Pointe now has more than 850 employees across 95 offices nationwide.
