Beacon Pointe, a Southern California-based registered funding advisor with $38 billion in property below advisement, has employed Jon Frojen, the previous chief monetary officer at Osaic, as its new CFO. He replaces John Grey, who not too long ago moved into the chief accounting officer position.
In his new position, Frojen might be answerable for the RIA’s monetary features and technique and can function a strategic associate for the agency’s interconnected disciplines throughout the enterprise.
Frojen spent the final 4 years as CFO of Osaic, one of many largest networks of impartial dealer/sellers. Final yr, the agency, previously Advisor Group, introduced it will merge its multi-brand community right into a single entity with a brand new title, Osaic.
Osaic not too long ago named Kristy Britt, a former head of finance for operations and expertise at Thomson Reuters, to exchange Frojen.
Earlier than becoming a member of Osaic, Frojen served as CFO of United Capital, Joe Duran’s RIA that was offered to Goldman Sachs in 2019. Final yr, Goldman offered the unit to Artistic Planning. Previous to that, Frojen spent three years as CFO of Cetera Monetary, one other massive community of IBDs.
Beacon Pointe has been an lively participant within the RIA M&An area. The agency not too long ago acquired Landmark Wealth Administration Group, a Lake Elmo, Minn.-based RIA, with about $1 billion in shopper property.
With about 568 staff nationwide and 62 places of work, Beacon Pointe expects to proceed specializing in acquisitions, usually self-sourced, of practices with complementary cultures centered on monetary planning.
In 2021, Beacon Pointe offered a stake in the enterprise to personal fairness agency KKR.
