Beacon Pointe, a Southern California-based registered investment advisor with $38 billion in assets under advisement, has hired Jon Frojen, the former chief financial officer at Osaic, as its new CFO. He replaces John Gray, who recently moved into the chief accounting officer role.
In his new role, Frojen will be responsible for the RIA’s financial functions and strategy and will serve as a strategic partner for the firm’s interconnected disciplines across the business.
Frojen spent the last four years as CFO of Osaic, one of the largest networks of independent broker/dealers. Last year, the firm, formerly Advisor Group, announced it would merge its multi-brand network into a single entity with a new name, Osaic.
Osaic recently named Kristy Britt, a former head of finance for operations and technology at Thomson Reuters, to replace Frojen.
Before joining Osaic, Frojen served as CFO of United Capital, Joe Duran’s RIA that was sold to Goldman Sachs in 2019. Last year, Goldman sold the unit to Creative Planning. Prior to that, Frojen spent three years as CFO of Cetera Financial, another large network of IBDs.
Beacon Pointe has been an active player in the RIA M&A space. The firm recently acquired Landmark Wealth Management Group, a Lake Elmo, Minn.-based RIA, with about $1 billion in client assets.
With about 568 employees nationwide and 62 offices, Beacon Pointe expects to continue focusing on acquisitions, typically self-sourced, of practices with complementary cultures focused on financial planning.
In 2021, Beacon Pointe sold a stake in the business to private equity firm KKR.
