The Florida wealth administration agency that's lower than a yr previous introduced its third acquisition on Wednesday, a deal that brings its complete belongings below administration to greater than $700 million.
Dakota Wealth Administration, Peter Raimondi’s registered funding advisory agency headquartered in Palm Seashore Gardens, Fla., agreed to accumulate Boston-based GML Associates, the agency mentioned. As of Jan. 1, GML Affiliate’s tax and consulting observe started working below the Dakota Wealth Administration model. Phrases of the deal weren't disclosed.
It is the third acquisition in eight months for the agency. Earlier this yr, Dakota acquired Oakmont Companions, an RIA in Massachusetts with over $300 million in belongings, and Strategic Asset Administration Group, a gaggle in Florida with $150 million.
Raimondi, beforehand founder and CEO of Banyan Companions and The Colony Group, a wealth supervisor he grew to $1 billion in belongings from 1986 to 2006. He offered Banyan Companions to Boston Personal in 2014 in a $60 million deal. He served as CEO of Boston Personal Wealth previous to a stint as a marketing consultant to RIAs earlier than founding Dakota.