Beacon Pointe Advisors has expanded its footprint in Washington state with the recent acquisition of Joslin Capital Advisors, a registered investment advisor with about $775 million in client assets under advisement, according to a news release.
The financial terms of the deal, which closed May 31, were not disclosed. The partnership brings Newport Beach, Calif.-based Beacon Pointe’s advised assets to roughly $35.6 billion.
Founded in 1999 by CEO Mike Joslin, the Redmond-based Joslin Capital team also includes wealth managers Chris Bentley and David Monsees, as well as client service and operational specialists Charissa Portillo, Lori Bawden and Eric Land.
The team, according to the release, “has cultivated deep local roots with business owners, physicians and physician group retirement plans, tech and other professionals, as well as high-net-worth retirees and inheritors of wealth.” It also noted that the firm works with nonprofit medical associations throughout the U.S.
Joslin, who has nearly 38 years of experience in the financial services industry, began his career with Prudential Securities in 1986, according to BrokerCheck. He joined Paine Webber in 1991 and moved to KMS Financial Services, where he stayed for 18 years.
“Our firm’s culture has always revolved around applying the golden rule when working with clients and co-workers and providing unparalleled advice and service,” Joslin said in a statement, noting that it was important to find a partner that would ensure that the firm’s “culture would be maintained, and ideally enhanced, moving forward.”
Joslin said it was apparent after meeting with Beacon Pointe’s leadership team that his group had found their new home. “Our partnership with Beacon Pointe will allow us to add unique and extensive investment and planning resources, enabling us to grow and meet the expectations of the increasingly dynamic, tech-focused world,” he said.
Matt Cooper, president of Beacon Pointe, said, “Mike and his team’s process is founded on transparency and trust, and it was evident when he first spoke with us about the close relationships he has with his clientele.” He said Joslin’s knowledge should help the firm tap deeper into the Seattle community.
Beacon Pointe CEO Shannon Eusey noted that since the firm’s acquisition of Seattle-based Rainier Financial Group in September 2021, “There has been an escalating demand for in-depth wealth planning services within Seattle and the greater Pacific Northwest region,” she said, adding, “Our allWEALTH service approach, combined with Joslin’s client-centric team, make for a perfect match to address the growth in the region.”
The firm’s trademarked allWEALTH approach allows advisors to go beyond the macro goals of planning and investing for the long-term financial security of clients and their families, the company’s website noted.