The following are real case studies of Beacon Pointe Wealth Advisors (BPWA) partners who have joined BPWA. Each case study focuses on a separate and distinct key element that attracted the advisor to join BPWA.
Frequently Asked Questions
Yes, but you will be an equity owner/partner and employee of BPWA. You will be our equity partner and run your local operating company within your exclusive territory. You will also be part of the Board of Managing Directors that meets regularly to help guide the company, share best practices, etc.
Ownership is determined by the amount of net income that your local operating company generates. Each time a new partner joins, and at least once a year, equity ownership percentage is recalculated to be sure it accurately reflects the amount of net income each local partner office is generating.
Typically this is a merger and equity exchange, not a cash purchase day one. We recognize that most advisors do not want to sell and walk away and would prefer to grow their business faster and cash out later, on their timing and at a higher multiple. BPWA provides a guaranteed “put” in the future.
And ultimately, this is the best decision. We want to do everything we can to drive valuation so when you are ready to retire, we are buying your shares at the greatest valuation. Common branding is a valuation driver. In addition, we believe being part of a significantly larger enterprise brand is valuable in the marketplace when prospecting for clients and also allows us to centralize marketing efforts, social media management, etc. That being said, we can discuss special circumstances that may allow for co-branding for a period of time.
Yes. You will be part of the Board of Managing Directors which meets at least twice annually and helps direct and steer the company. Your input is always welcome, as the success of BPWA is the collection of all of us.
You will not be required to sell all of your clients’ investments when you join BPWA. We encourage advisors to bring their client portfolios to BPWA “in kind.” The Beacon Pointe investment management platform of separately managed accounts, mutual funds, alternatives and ETFs is very robust and has proven to serve clients very well, especially through rough markets. We ask that over a 24 to 36 month period after joining BPWA, you transition your client portfolios to our investment managers. Again, this needs to be done with clients’ best interests in mind.
BPWA advisors can affiliate with a third-party broker-dealer who will hold your license and pay your trails at a very competitive rate.
Yes. Beacon Pointe has a robust planning department, which includes two experienced attorneys and several CFP®s. We are believers in planning as the primary framework to deliver advice to clients. We can support the use of all major software platforms, eMoney, Money Guide Pro, NaviPlan, etc.
Clearly BPWA is looking for long-term partners. We are very deliberate and careful about partnering with people we believe are a good fit and share our values and vision. It’s important that we like, trust and respect each other. That being said, we can clearly mark your business/clients that you bring to BPWA. There are protections within the BPWA documents for partners that allow you to leave for “good reason.” We want great partners and it is in everyone’s best interest that BPWA maintain an environment and culture that makes people want to stay.
Yes. You will have an exclusive territory. We will determine the territory based on discussions between you and BPWA and with consideration of the size of your current business. BPWA has a goal of 35 to 40 partner offices across the country. Therefore, there are plenty of markets and territories.ay.
Yes. As stated, Beacon Pointe has a robust financial planning platform and strategic planning department. Commie Stevens, JD is our Director of Planning. Beacon Pointe Insurance Services is available to provide life insurance, long-term care and disability insurance to best serve your clients at your discretion.
Beacon Pointe has Allison Hillgren, who is completely dedicated to marketing, branding and social media management. She is a millennial and Communication Management Masters (MCM) who graduated with honors from both the Communication and Business Schools at the University of Southern California. She understands this medium and is a valuable resource. Our BPWA partners will not have to worry about websites, social media management or compliance related to social media.
BPWA will assume the responsibility for compliance. We have a dedicated compliance person who will oversee all issues related to compliance and directly interface with our third party compliance firm. While each BPWA Partner will be designated as the local compliance officer, the primary responsibility for compliance matters is at BPWA.
Yes. One of the primary focuses of BPWA is to help our partners recruit additional advisors to their office. By virtue of our scale and track record of success, we have great relationships with asset custodians, third party recruiting firms and other sources. We will employ all of these resources in a comprehensive strategy to grow your office personnel.