Beacon Pointe Advisors Review

Pros and Cons of Beacon Pointe Advisors

Types of Clients

Beacon Pointe’s typical clientele includes individuals, families, and institutional entities, such as corporations, trusts, or charitable organizations. The firm does, however, require its clients to have at least $1 million in investable assets to open an account. It also allows families to combine accounts to meet this requirement.

Financial Advisor Services

Beacon Pointe offers several core financial advisor services, including wealth advisory, consulting, and planning. These are discretionary and non-discretionary solutions, which may require an advisor to manage some or all of your assets depending on your needs.

Below is a breakdown of what you can expect from each service:

Wealth Advisory

One of Beacon Pointe’s primary services is its wealth advisory program. This is a primarily discretionary arrangement where the firm will manage a portion or the entirety of your investable assets according to your investment objectives, risk tolerance, and time horizon. Additionally, you may need to authorize third-party investment managers (who are monitored by Beacon Pointe) to manage your portfolio.

Beacon Pointe also offers an automated investing or robo-advisory program via Schwab Intelligent Portfolios. Upon providing information about your circumstances, including your goals and risk preferences, it will invest your funds in a portfolio strategy that aligns with your needs. These portfolios primarily comprise low-cost exchange-traded funds (ETFs) and mutual funds.

Consulting

Beacon Pointe also provides non-discretionary consulting services to both individual and institutional clients. This ranges from assisting you with selecting an optimal asset allocation to recommending independent investment managers. The firm also provides performance evaluations and reporting to ensure your portfolio strategy aligns with your goals.

Financial Planning

An additional service you can find at Beacon Pointe is comprehensive financial planning. To begin, your advisor will attempt to gain a holistic understanding of your financial picture, including:

• Current and historical net-worth status
• Income
• Taxes
• Investments
• Retirement plans
• Insurance
• Short- and long-term goals

Once the firm and its professionals have a full understanding of your finances, they’ll create a comprehensive plan tailored to your needs. This includes recommendations and guidance regarding important areas of your finances, including retirement planning, estate planning, and overall wealth management.

Family Offices

As part of its resources for ultra-high-net-worth (UHNW) clients, Beacon Pointe offers family office services. While how its advisors would help you depends on your needs, you can reasonably expect the firm to dedicate time and resources to assist you with what you need. In general, it provides the following:

• Asset management
• Lifestyle management
• Liability management
• Risk management
• Life and legacy planning
• Family dynamics and education

Fee Structure

Beacon Pointe uses a fee-based structure to charge its clients. For its wealth advisory and investment management solutions, you’ll pay a minimum of $1,250 quarterly. The more valuable your account is, the larger the fee you’ll have to cover.

Additionally, consulting services require you to pay a flat fee, which may be hourly, fixed, or as a percentage of assets under management (AUM). The exact rate, per the firm, relies on the extent of the services you receive. Below is a breakdown of what the company typically charges (for each type of flat fee or type of service):

• 0.20% to 0.50% of discretionary portfolios
• 0.08% to 0.50% of non-discretionary portfolios
• $25,000 minimum fee for projects
• $350 to $500 per hour

Importantly, Beacon Pointe’s fees do not include those from independent investment managers, which it uses frequently as part of its wealth advisory service. Those, along with any external platform costs, are your responsibility as a client to track and pay separately.

Investment Philosophy

Beacon Pointe’s investment philosophy is client-centric. At the start of your relationship with the firm, it’ll seek to gain an understanding of your goals, needs, situation, and risk tolerance. At this point, your advisors will be able to build an investment approach that suits your needs.

In its Form ADV Part 2A, Beacon Pointe emphasizes that it leans on robust asset allocation modeling techniques. This, coupled with the firm’s expertise and analysis of your preferences, helps them devise a portfolio strategy for you.

Because of its status as an RIA firm, Beacon Pointe must also adhere to a fiduciary duty while it provides investment advice to clients. This means that the firm and its representatives must prioritize your best interest and work with a high level of integrity.

Disclosures

Beacon Pointe Advisors, LLC’s status as an RIA requires it to file an annual Form ADV with the SEC, where it reports any disclosure or disciplinary history. However, according to its most recent filing, the company had none to report. This is a noteworthy testament to its high ethical standards and commitment to a fiduciary standard.

Be aware, however, that it’s vital to always keep a close eye on firms’ and individual advisors’ filings before working with them. You can use the SEC’s Investment Adviser Public Disclosure (IAPD), an updated database of all current RIAs and representatives, to access their filings and verify their regulatory history.

Customer Service and Becoming a Client

If you need to contact Beacon Pointe or your advisor, there are a few ways to do so:

• Visit the firm’s “Contact Us” page and reach a local office in your state via its listed contact information.
• Use the firm’s contact form to schedule a meeting.
• Call (949) 718-1600.

To begin your relationship with the firm, you can visit the firm’s website to identify a location near you and schedule a consultation with an advisor. Alternatively, you can use the form, listed above, to reach out and meet with a professional. Currently, Beacon Pointe operates locations in the following 21 states:

• Arizona
• California
• Colorado
• Florida
• Illinois
• Indiana
• Louisiana
• Maryland
• Massachusetts
• Michigan
• Minnesota
• New Jersey
• New York
• North Carolina
• Pennsylvania
• South Carolina
• Tennessee
• Texas
• Utah
• Washington
• Wisconsin

Methodology

This review is based on publicly available information directly from Beacon Pointe Advisors’ website and the SEC. Neither the firm nor its representatives have any say on what we’ve included on this page.

Frequently Asked Questions

Is Beacon Pointe a fiduciary?

Beacon Pointe Advisors is a fiduciary, both because of its internal code of ethics and registration with the SEC as an RIA firm. The company and its advisory professionals must act in your best interest when they deliver investment advice, whether it’s discretionary or non-discretionary.

Is Beacon Pointe a good financial advisor firm?

Beacon Pointe provides several services and resources for wealthy clients, including investment management, planning, consulting, and family office solutions. These all form a comprehensive option if you fit this category. Beyond that, the firm enjoys high ratings in Barrons’ Top RIA List and is accessible in at least 21 states.

If you’re a high-net-worth client (≥$1 million in investable assets), Beacon Pointe may be a worthwhile choice because of its wide range of solutions and excellent reputation. Before committing to working with the firm long-term, use your initial consultation as a tool to assess whether you’ll be able to get what you need from the firm.

How much money do you need to be a Beacon Pointe client?

Beacon Pointe’s services are geared toward high-net-worth clients with at least $1 million to invest. To open an account, you must generally be willing to contribute this amount (which can be combined with multiple accounts per family). At the firm’s discretion, however, it may waive or negotiate a different minimum.