A conversation with Matt Cooper, President of Beacon Pointe and Sasank Chary, Managing Director of KKR
What does it take to garner the attention of one of the leading private equity firms in the world? Beacon Pointe’s President Matt Cooper and Sasank Chary, Managing Director of KKR, discuss the key drivers of their strategic partnership, explore Beacon Pointe’s extraordinary growth, share advice on what it takes to make your firm attractive to an investor, and much more.
Podcast: Play in new window | Download (Duration: 55:13 — 75.8MB) | Embed
Subscribe: Apple Podcasts | Google Podcasts | Spotify | Amazon Music | Pandora | iHeartRadio | Stitcher | Podchaser | TuneIn | Deezer | Anghami | RSS
About this episode…
Plenty of successful RIAs have become attractive investments for acquirers in the space. But to capture the attention of KKR, one of the leading private equity firms in the world, would take a firm that exemplifies something truly extraordinary.
And that “something extraordinary” was revealed November 2021 when it was announced that KKR would invest in Beacon Pointe Advisors, the nation’s largest female-led RIA.
For Beacon Pointe, it all started back in 2002. That’s when the founding partners – Matt Cooper (President of Beacon Pointe), Shannon Eusey (the firm’s CEO), and Garth Flint – combined their visions of what an RIA “should be.”
And you might say that worked out quite well, evidenced by the firm’s extraordinary growth from zero to $25B in assets under management, continual growth trajectory and numerous industry awards.
KKR’s investment says volumes about Beacon Pointe—and is a testament to what’s possible when you build a firm with clarity of goals and vision.
So what was it about Beacon Pointe that made them worthy of the vaunted firm’s attention?
This episode explores the answer to that question with perspectives from both sides of the table. Louis Diamond speaks with Beacon Pointe’s Matt Cooper and Sasank Chary, Managing Director of KKR, to learn more about the deal, including:
- The drivers behind Beacon Pointe’s extraordinary growth—and how this new investment will further their M&A ambitions.
- KKR’s attraction to Beacon Pointe—and why they view the relationship as more than a capital investment.
- Beacon Pointe’s approach to M&A—and what they see as the real value of equity in deal structure.
- The complimentary value that both firms derive from a deal like this—and what key advice they have for both prospective sellers and buyers.
Plus, we’ll get their take on the strength of the M&A market going forward, what makes an RIA attractive to an investor, and much more.
It’s a conversation that offers key takeaways for buyers and sellers alike, but also an eye-opener for advisors outside the independent space who may be curious about the value potential of their business in the future.
Industry Update on M&A: If You Build It, Will They Buy It? – Part 1 of 2
The excitement around M&A activity has many financial advisors considering their future. Is independence the right path? And if you build an independent firm, who will buy it? This episode compares and contrasts options. Listen->
Industry Update on M&A: If You Build It, Will They Buy It? – Part 2 of 2
Part 2 of 2 on M&A: For advisors who are reviewing their firm’s retire-in-place program, considering a recruitment deal, or looking to launch an independent firm, understanding the value on the open market is critical. Listen->
Industry Update: What Financial Advisors Need to Know About Growing Through Recruitment & M&A
One of the major motivations for advisors who choose independence is to build an enterprise via recruitment and M&A. But inorganic growth opportunities are not exclusive to independent firms. Although more limited, wirehouse advisors have options too. Listen->
Determining Enterprise Value: 7 Key Qualitative Drivers for Sellers
While mergers and acquisitions are typically associated with existing RIAs and independents, the fact of the matter is that anytime an advisor is offered a recruitment package from a brokerage firm, that firm is in essence “buying” a business and conducting its own due diligence process to assess value—so understanding that value is imperative. Read->
Matt is a founding partner of Beacon Pointe Advisors and oversees the firm’s strategic plan focused on mergers and acquisitions, creating synergistic partnerships between Beacon Pointe and other wealth managers across the country. Matt has been featured in Financial Planning Magazine, Barron’s, InvestmentNews, Citywire, Financial Advisor IQ, and Forbes, among other publications. He also regularly speaks on a host of wealth management and industry-related topics across various national conferences. Matt has a passion for continuous lifetime learning with a focus on the wealth management and financial life management industries. At a time when the RIA industry is changing more rapidly than any other point in history, his focus is on building the best possible business to serve clients and to assist other wealth advisors in meeting their lifetime goals. Matt graduated from the University of Southern California Marshall School of Business with a B.S. in Finance and Business Economics. While at USC, Matt served as President for the Sigma Alpha Epsilon Fraternity. He remains a supporter of both the University and the National Fraternity. Matt has served on the Advisory Committee of Serving People in Need (SPIN), is past President of Newport Mesa National Junior Basketball, past President of the Andersen Elementary School Foundation (DEANS), is a member of Legatus International, and also served on the Investment Committee of The Orange Catholic Foundation. He lives in Dallas, Texas with his wife and has three sons. Matt enjoys traveling, running and exercise, and spending time with his family.
Sasank Chary is a Managing Director at KKR within the firm’s Americas Private Equity platform. He currently serves on the Board of Beacon Pointe Advisors. Prior to joining KKR in 2021, Mr. Chary was with Reverence Capital Partners. Previously, he worked at Sageview Capital, Harvest Partners, and UBS. He received a B.S. in Economics and B.A. in International Relations from The University of Pennsylvania’s Wharton School and College of Arts and Sciences, respectively. Mr. Chary also serves as a Board member of South Asian Youth Action.
Also available on your favorite podcast app and other media sites