Transactions

Wealthstreet Investment Advisors Has Been Acquired By Beacon Pointe Advisors

New York, NY, April 1, 2021 – Park Sutton Advisors, LLC (“PSA”) is pleased to have represented Wealthstreet Investment Advisors (“Wealthstreet”) on its acquisition by Beacon Pointe Advisors (“Beacon Pointe”), a leading privately-owned registered investment advisor (“RIA”) headquartered in Newport Beach, California. Located in Dallas, Texas, Wealthstreet manages $1.2 billion in AUM, primarily for high-net-worth clients. With the closing of

the Wealthstreet transaction, Beacon Pointe’s total AUM/A exceeds $14.5 billion. Terms of the transaction were not disclosed.

“We could not be more excited about joining Beacon Pointe. In a world where scale and breadth increasingly matter, Beacon Pointe provides world class research, financial planning and alternatives capabilities while maintaining a culture of dedication and service that Wealthstreet clients have come to expect,” said Joe Ray, President and Managing Director of Wealthstreet.

Shannon Eusey, CEO of Beacon Pointe comments, “I’m continually humbled and excited to see our firm culture resonate so well with our RIA partners. Culture is everything, and we are devoted to maintaining a positive environment where our expanding team and clients both synergistically benefit. The Wealthstreet team is a great fit for Beacon Pointe as both firms share a similar ethos.”

“Wealthstreet is Beacon Pointe’s largest acquisition to date and was accomplished with the support of its capital partner, Abry Partners,” said Dan Erichson, CFA, a Park Sutton Advisors Vice President. He added, “We have advised on four transactions in Texas since late 2019, and groups like Wealthstreet, located in attractive, fast-growing geographies, are certainly in high demand.”

“I am so pleased to see some of my favorite folks coming together in an important strategic partnership,” states Steven Levitt, Founder of Park Sutton. “I have known members of the Wealthstreet team for over 20 years. I have known Beacon Pointe management for many years as well. This combined team shall be a force-to-be-reckoned-with in North Texas and we wish them continued success.”