Beacon Pointe Advisors says it has made yet another acquisition in Texas.
The latest addition is Benchmark Private Wealth, a firm with offices in Dallas and Waco, according to Beacon Pointe.
The team, led by Wayne McCullough, Keith Ferguson, Allen Ferguson and Rawles Bell — all of whom are now partners at Beacon Pointe — manages more than $600 million, the company says.
McCullough has been in the financial services industry for more than two decades and Keith Ferguson for more than four, according to Beacon Pointe. Allen Ferguson came to the industry more than a decade ago, the company says.
Bell first entered the industry in 2012, according to BrokerCheck.
The company didn’t disclose the financial terms of the deal, which closed on June 30.
The latest addition is Beacon Pointe’s fourth in Texas, and the third in the state within just the last year, according to the firm.
However, it’s the first time for Beacon Pointe to acquire a firm with a bank referral relationship, the company says.
Beacon Pointe was one of the top three acquirers in the registered investment advisor space in the first half of the year with eight deals, according to Echelon Partners.