The acquired business oversees a total of $500 million of client assets, and the deal adds to a number of purchases Beacon Pointe has arranged in 2021.

Beacon Pointe Advisors, based in Newport Beach, California, has closed another acquisition, establishing its first bricks-and-mortar presence in the Pacific Northwest through a partnership with Rainier Financial Group, based in Seattle, Washington. 

As the second acquisition in the span of 30 days, $500 million Rainier is now Beacon Pointe's 25th nationwide office.

The team of four at Rainier joining Beacon Pointe includes Grant Hartvigson as a partner and managing director, James Simone and Kimberly Arnesen as senior wealth advisors, and Lauren Reisenauer as a client service associate.

Hartvigson, CFP® has worked in the sector for two decades. He graduated from the University of Washington Foster School of Business and holds the Certified Financial Planner™ (CFP®) and Chartered Life Underwriter (CLU) designations. 

With more than 20 years’ sector experience, Simone, CFP®, CFA, is a financial advisor at Rainier and holds the Certified Financial Planner™ (CFP®) designation as well as the Chartered Financial Analyst (CFA) designation. He started his career in Geneva, Switzerland and spent the ensuing 25 years managing assets for institutional and individual clients. He is a member and a past president of the CFA Society Seattle and serves on the board of Friends of Athletic Fields.

Kimberly Arnesen, ChFC®, who has worked in the sector for almost 15 years, is a financial advisor at Rainier; she holds the Chartered Financial Consultant designation in addition to passing the Certified Financial Planner™ (CFP®) exam. Arnesen will lead the expansion of Beacon Pointe's Women's Advisory Institute in the Seattle area.

The Rainier Financial Group transaction closed on July 31 and is Beacon Pointe's sixth acquisition deal of 2021, totaling more than $3.5 billion in acquired AUM for Beacon Pointe year to date. Financial terms of the transactions were not disclosed.