Accenture, a global professional services company, has acquired Beacon Consulting Group, a consulting firm for the North American asset management community. This acquisition significantly expands Accenture’s asset management consulting capabilities and enhances its ability to help global investment managers, institutional investors, and asset servicers gain an edge in increasingly competitive markets.

Beacon Consulting will become part of Accenture’s Capital Markets practice, reinforcing its expertise and capabilities in asset management to help asset managers and other financial services companies design, build and operate their business. Beacon Consulting Group brings a deep understanding of the asset management industry with differentiated expertise in middle- and back-office operations. Beacon’s proprietary benchmarking data and thought leadership also help its clients enhance their competitive position and implement changes that transform their business performance.

Accenture’s Capital Markets practice provides consulting, strategy, digital, technology and outsourcing services to financial institutions to optimize analytics for asset managers, drive sales force effectiveness, improve operational productivity, reduce costs and manage risks. Its clients include eight of the top 10 global wealth managers and seven of the top 10 global asset managers.

Terms of the transaction were not disclosed.