Registered independent advisory firm Beacon Pointe Advisors announced Wednesday that Matthew Cooper, the firm's longtime president, has succeeded Shannon Eusey as CEO.
Eusey, who co-founded the Newport Beach, California-based RIA in 2002, will step into the role of chair of the firm's board of directors, shifting her focus, she said, toward vision, governance and strategic stewardship.
"Beacon Pointe's strength has always been its people and its foundation of fiduciary responsibility," she said in
Under Eusey's leadership, Beacon Pointe evolved from a regional outfit into a national firm with over 90 offices and more than 750 team members. As of late January, it oversaw $60 billion in assets under management and $2.5 billion in assets under advisement.
Much of that growth came
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Cooper, who served as president of Beacon Pointe for 15 years, has been credited as the force behind many of the firm's deals. The firm, which often characterized its acquisitions as strategic integrations, has long positioned itself as a home for RIAs looking for scale and resources.
"It is a privilege to assume the role of chief executive officer and build upon the extraordinary foundation Shannon has created," Cooper said in a statement. "Her vision, integrity and leadership have shaped Beacon Pointe into the firm that it is today. I look forward to continuing to further our mission of delivering independent, client-first advice while driving thoughtful growth and innovation alongside an outstanding team of leaders across the organization."
Fiduciary roots and private equity
Eusey developed her vision for a fiduciary-focused independent RIA in 2001, when she was working at a Los Angeles wealth firm while at the same time earning her MBA. The following year, she launched Beacon Pointe with her father, Garth Flint.
"When we started in 2002, fee-only was unique," Eusey
Private equity giant KKR became
