diff --git a/CHANGELOG.md b/CHANGELOG.md
index aa11f720..f0b8e77e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -8,6 +8,16 @@ Version 149:
 * Don't copy completion handlers
 * handler_ptr is move-only
 
+API Changes:
+
+* handler_ptr gives the strong exception guarantee
+
+Actions Required:
+
+* Change the constructor signature for state objects
+  used with handler_ptr to receive a const reference to
+  the handler.
+
 --------------------------------------------------------------------------------
 
 Version 148:
diff --git a/example/echo-op/echo_op.cpp b/example/echo-op/echo_op.cpp
index 3d9240e7..0d73da87 100644
--- a/example/echo-op/echo_op.cpp
+++ b/example/echo-op/echo_op.cpp
@@ -107,7 +107,7 @@ class echo_op
         // contained object constructor is a reference to the
         // managed final completion handler.
         //
-        explicit state(Handler& handler, AsyncStream& stream_)
+        explicit state(Handler const& handler, AsyncStream& stream_)
             : stream(stream_)
             , buffer((std::numeric_limits<std::size_t>::max)(),
                 boost::asio::get_associated_allocator(handler))
diff --git a/include/boost/beast/core/handler_ptr.hpp b/include/boost/beast/core/handler_ptr.hpp
index dfce6cce..559c0c15 100644
--- a/include/boost/beast/core/handler_ptr.hpp
+++ b/include/boost/beast/core/handler_ptr.hpp
@@ -49,8 +49,10 @@ namespace beast {
 template<class T, class Handler>
 class handler_ptr
 {
+    using handler_storage_t = typename detail::aligned_union<1, Handler>::type;
+
     T* t_ = nullptr;
-    Handler h_;
+    handler_storage_t h_;
 
     void clear();
 
@@ -100,9 +102,12 @@ public:
         following equivalent signature:
 
         @code
-            T::T(Handler&, Args&&...)
+            T::T(Handler const&, Args&&...)
         @endcode
 
+        @par Exception Safety
+        Strong guarantee.
+
         @param handler The handler to associate with the owned
         object. The argument will be moved if it is an xvalue.
 
@@ -116,14 +121,14 @@ public:
     handler_type const&
     handler() const
     {
-        return h_;
+        return *reinterpret_cast<Handler const*>(&h_);
     }
 
     /// Returns a reference to the handler
     handler_type&
     handler()
     {
-        return h_;
+        return *reinterpret_cast<Handler*>(&h_);
     }
 
     /** Returns a pointer to the owned object.
diff --git a/include/boost/beast/core/impl/handler_ptr.ipp b/include/boost/beast/core/impl/handler_ptr.ipp
index 8a03e1cf..99d1a894 100644
--- a/include/boost/beast/core/impl/handler_ptr.ipp
+++ b/include/boost/beast/core/impl/handler_ptr.ipp
@@ -24,8 +24,9 @@ clear()
 {
     typename beast::detail::allocator_traits<
         boost::asio::associated_allocator_t<
-            Handler>>::template rebind_alloc<T> alloc{
-                boost::asio::get_associated_allocator(h_)};
+            Handler>>::template rebind_alloc<T> alloc(
+                boost::asio::get_associated_allocator(
+                    handler()));
     beast::detail::allocator_traits<
         decltype(alloc)>::destroy(alloc, t_);
     beast::detail::allocator_traits<
@@ -38,43 +39,51 @@ handler_ptr<T, Handler>::
 ~handler_ptr()
 {
     if(t_)
+    {
         clear();
+        handler().~Handler();
+    }
 }
 
 template<class T, class Handler>
 handler_ptr<T, Handler>::
 handler_ptr(handler_ptr&& other)
     : t_(other.t_)
-    , h_(std::move(other.h_))
 {
-    other.t_ = nullptr;
+    if(other.t_)
+    {
+        new(&h_) Handler(std::move(other.handler()));
+        other.handler().~Handler();
+        other.t_ = nullptr;
+    }
 }
 
 template<class T, class Handler>
 template<class DeducedHandler, class... Args>
 handler_ptr<T, Handler>::
-handler_ptr(DeducedHandler&& handler, Args&&... args)
-    : t_([&]
-        {
-            BOOST_STATIC_ASSERT(! std::is_array<T>::value);
-            typename beast::detail::allocator_traits<
-                boost::asio::associated_allocator_t<
-                    Handler>>::template rebind_alloc<T> alloc{
-                        boost::asio::get_associated_allocator(handler)};
-            using A = decltype(alloc);
-            auto const d =
-                [&alloc](T* p)
-                {
-                    beast::detail::allocator_traits<A>::deallocate(alloc, p, 1);
-                };
-            std::unique_ptr<T, decltype(d)> p{
-                beast::detail::allocator_traits<A>::allocate(alloc, 1), d};
-            beast::detail::allocator_traits<A>::construct(
-                alloc, p.get(), handler, std::forward<Args>(args)...);
-            return p.release();
-        }())
-    , h_(std::forward<DeducedHandler>(handler))
+handler_ptr(DeducedHandler&& h, Args&&... args)
 {
+    BOOST_STATIC_ASSERT(! std::is_array<T>::value);
+    typename beast::detail::allocator_traits<
+        boost::asio::associated_allocator_t<
+            Handler>>::template rebind_alloc<T> alloc{
+                boost::asio::get_associated_allocator(h)};
+    using A = decltype(alloc);
+    bool destroy = false;
+    auto deleter = [&alloc, &destroy](T* p)
+    {
+        if(destroy)
+            beast::detail::allocator_traits<A>::destroy(alloc, p);
+        beast::detail::allocator_traits<A>::deallocate(alloc, p, 1);
+    };
+    std::unique_ptr<T, decltype(deleter)> t{
+        beast::detail::allocator_traits<A>::allocate(alloc, 1), deleter};
+    beast::detail::allocator_traits<A>::construct(alloc, t.get(),
+        static_cast<DeducedHandler const&>(h),
+            std::forward<Args>(args)...);
+    destroy = true;
+    new(&h_) Handler(std::forward<DeducedHandler>(h));
+    t_ = t.release();
 }
 
 template<class T, class Handler>
@@ -85,7 +94,14 @@ release_handler() ->
 {
     BOOST_ASSERT(t_);
     clear();
-    return std::move(h_);
+    auto deleter = [](Handler* h)
+    {
+        h->~Handler();
+    };
+    std::unique_ptr<
+        Handler, decltype(deleter)> destroyer{
+            &handler(), deleter};
+    return std::move(handler());
 }
 
 template<class T, class Handler>
@@ -96,7 +112,14 @@ invoke(Args&&... args)
 {
     BOOST_ASSERT(t_);
     clear();
-    h_(std::forward<Args>(args)...);
+    auto deleter = [](Handler* h)
+    {
+        h->~Handler();
+    };
+    std::unique_ptr<
+        Handler, decltype(deleter)> destroyer{
+            &handler(), deleter};
+    handler()(std::forward<Args>(args)...);
 }
 
 } // beast
diff --git a/include/boost/beast/http/impl/read.ipp b/include/boost/beast/http/impl/read.ipp
index cbabff0f..df0eb690 100644
--- a/include/boost/beast/http/impl/read.ipp
+++ b/include/boost/beast/http/impl/read.ipp
@@ -316,7 +316,7 @@ class read_msg_op
         std::size_t bytes_transferred = 0;
         bool cont = false;
 
-        data(Handler&, Stream& s_,
+        data(Handler const&, Stream& s_,
                 DynamicBuffer& b_, message_type& m_)
             : s(s_)
             , b(b_)
diff --git a/include/boost/beast/http/impl/write.ipp b/include/boost/beast/http/impl/write.ipp
index c07fe540..8fd82a5e 100644
--- a/include/boost/beast/http/impl/write.ipp
+++ b/include/boost/beast/http/impl/write.ipp
@@ -306,7 +306,7 @@ class write_msg_op
         Stream& s;
         serializer<isRequest, Body, Fields> sr;
 
-        data(Handler&, Stream& s_, message<
+        data(Handler const&, Stream& s_, message<
                 isRequest, Body, Fields>& m_)
             : s(s_)
             , sr(m_)
diff --git a/include/boost/beast/websocket/impl/accept.ipp b/include/boost/beast/websocket/impl/accept.ipp
index 8b29de46..e85bfe45 100644
--- a/include/boost/beast/websocket/impl/accept.ipp
+++ b/include/boost/beast/websocket/impl/accept.ipp
@@ -45,7 +45,7 @@ class stream<NextLayer>::response_op
         response_type res;
 
         template<class Body, class Allocator, class Decorator>
-        data(Handler&, stream<NextLayer>& ws_, http::request<
+        data(Handler const&, stream<NextLayer>& ws_, http::request<
             Body, http::basic_fields<Allocator>> const& req,
                 Decorator const& decorator)
             : ws(ws_)
@@ -142,7 +142,7 @@ class stream<NextLayer>::accept_op
         stream<NextLayer>& ws;
         Decorator decorator;
         http::request_parser<http::empty_body> p;
-        data(Handler&, stream<NextLayer>& ws_,
+        data(Handler const&, stream<NextLayer>& ws_,
                 Decorator const& decorator_)
             : ws(ws_)
             , decorator(decorator_)
diff --git a/include/boost/beast/websocket/impl/close.ipp b/include/boost/beast/websocket/impl/close.ipp
index e2b61318..23c026aa 100644
--- a/include/boost/beast/websocket/impl/close.ipp
+++ b/include/boost/beast/websocket/impl/close.ipp
@@ -48,7 +48,7 @@ class stream<NextLayer>::close_op
         bool cont = false;
 
         state(
-            Handler&,
+            Handler const&,
             stream<NextLayer>& ws_,
             close_reason const& cr)
             : ws(ws_)
diff --git a/include/boost/beast/websocket/impl/handshake.ipp b/include/boost/beast/websocket/impl/handshake.ipp
index 18fd1e06..0de20986 100644
--- a/include/boost/beast/websocket/impl/handshake.ipp
+++ b/include/boost/beast/websocket/impl/handshake.ipp
@@ -47,7 +47,7 @@ class stream<NextLayer>::handshake_op
         response_type res;
 
         template<class Decorator>
-        data(Handler&, stream<NextLayer>& ws_,
+        data(Handler const&, stream<NextLayer>& ws_,
             response_type* res_p_,
                 string_view host,
                     string_view target,
diff --git a/include/boost/beast/websocket/impl/ping.ipp b/include/boost/beast/websocket/impl/ping.ipp
index 223d06a7..a53eaad3 100644
--- a/include/boost/beast/websocket/impl/ping.ipp
+++ b/include/boost/beast/websocket/impl/ping.ipp
@@ -44,7 +44,7 @@ class stream<NextLayer>::ping_op
         token tok;
 
         state(
-            Handler&,
+            Handler const&,
             stream<NextLayer>& ws_,
             detail::opcode op,
             ping_data const& payload)
diff --git a/test/beast/core/handler_ptr.cpp b/test/beast/core/handler_ptr.cpp
index 768239b2..1885de4b 100644
--- a/test/beast/core/handler_ptr.cpp
+++ b/test/beast/core/handler_ptr.cpp
@@ -34,7 +34,8 @@ public:
 
     struct T
     {
-        T(handler&)
+        explicit
+        T(handler const&)
         {
         }
 
@@ -45,7 +46,8 @@ public:
 
     struct U
     {
-        U(handler&)
+        explicit
+        U(handler const&)
         {
             throw std::exception{};
         }