Accenture has acquired Beacon Consulting Group, a trusted advisor and management consultant to the North American asset management community. Financial terms of the deal were not disclosed.

The deal will expand Accenture’s capabilities in asset management and enhances the company’s ability to help global investment managers, institutional investors and asset managers gain an edge in increasingly competitive markets. 

Founded in 1999 and Headquartered in Boston, Massachusetts, Beacon Consulting Group is a trusted advisor to global financial and investment firms seeking to achieve and sustain a competitive edge. The company’s advisory services include operating model and business process transformation, and technology strategy to the world’s largest investment managers, institutional investors, hedge funds, technology vendors and asset servicers. 

John DelSanto, Senior Managing Director of Accenture Financial Services Group in North America, said in a statement: “Though asset management is a large and growing industry segment, it is also characterized by increasing competition and rapidly evolving industry dynamics”, and also added: “By adding the consulting professionals from Beacon to our Capital Markets practice, we further deepen our industry knowledge to be better positioned to help our clients transform the way they do business.”

Keith Brown, President at Beacon Consulting, said in a statement: “Top-tier asset management firms are facing increased competition, fee pressure from investors, rapidly changing investor preferences and products and ever-increasing regulation”, and also added this: “We’re excited to join Accenture to help the industry meet these challenges, execute transformation across their business and succeed in a quickly changing market.”

Accenture is a global management consulting, technology services and outsourcing company. Accenture has more than 358,000 people serving clients in more than 120 countries. It collaborates with clients to help them become high-performance businesses and governments.