Beacon Pointe Advisors has acquired Denver-based firm Northstar Investment Advisors, which oversees $1bn in assets.

Financial terms of the transaction, which closed this week, were not disclosed.

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The acquired entity was co-founded in 1995 by veteran financial advisers Frederick Taylor and Robert Wetter.

With the addition of Northstar, Beacon’s assets under advisement surpass $20bn.

Northstar CEO Charlie Farrell said: “We felt Beacon Pointe had the most compelling wealth management platform for our clients as we look to expand our financial and legacy planning services.

“Beacon Pointe also provided us with the ability to access institutional quality investments in areas like impact, ESG, and private equity investing, as many of our clients have a growing interest in these areas.”

Under the agreement, Taylor, Wetter, and Farrell will become partners and managing directors at Beacon Pointe.

Northstar’s six additional team members across various portfolio management, operational and client service roles will also join the firm.

Beacon Pointe CEO Shannon Eusey said: “We are extremely excited to have a robust presence in the Denver marketplace. Fred, Bob and Charlie have built many long-lasting relationships throughout the entire state of Colorado and beyond, and we look forward to what their team will be able to do now powered by the resources of Beacon Pointe.”

Last year, Beacon Pointe Advisors merged with Louisiana-based peer CBD Wealth Management, adding $690m in assets to its books.

In 2015, the company acquired TPW Financial, a $300m wealth management firm, in a move to boost its presence in the East Coast.