Beacon Pointe Wealth Advisors, an independent RIA based in Newport Beach, has acquired TPW Financial, a $300m wealth management firm, in a move to boost its presence in the East Coast.

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The deal will boost Beacon’s assets to about $1.4bn, and the combined assets of its firm family, including parent Beacon Pointe Advisors, to about $8.5bn.

As part of the acquisition, Chitra Staley, founder of TPW, and Mark Mathers will join Beacon Pointe. They will also be offered equity in Beacon Pointe as part of the transaction.

Matt Cooper, who leads Beacon Pointe Wealth Advisors, said: Beacon Pointe Advisors Partner Matt Cooper said: "Chita has a deep background in SRI, or socially responsible impact investing."

Cooper added that Beacon Pointe’s institutional clients include many endowments and universities, which are asking more questions about sustainability and impact investing.