Ledge Wealth Management, a registered investment advising business with around $400m under management, has reached into an acquisition agreement with Dakota Wealth Management, an independent investment management company.
Founded in May 2018, Dakota Wealth Management aims to provide both clients and partners with a multigenerational financial wellness experience through innovative wealth management.
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It has increased the amount of assets under management since its establishment through organic expansion and targeted acquisitions.
Dakota Wealth Management now oversees $4.9bn with the purchase of Ledge Wealth Management.
Kurt Durrwachter, the CEO, and founder of Ledge Wealth, has joined Dakota Wealth, accompanied by six associates and Gina K. Bartell, the COO and partner.
Peter Raimondi, founder and CEO, Dakota Wealth Management commented: “We add firms intentionally and purposefully. In addition to providing exceptional wealth management counselling to individuals and families, Kurt and his team have demonstrated expertise in designing employer sponsored plans for business owners.”
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By GlobalDataFollowing the process of change, both businesses will continue to place a high focus on providing expertise and customer service.
To continue serving their present clientele, the seasoned teams from Ledge Wealth and Dakota Wealth Management will stay in place.
In addition to this, Durrwachter and Bartell will be joining Dakota Wealth as managing directors.
“It was very important to find a stable but growing company that was interested in continuing to encourage entrepreneurship,” added Durrwachter. “I think Peter has built a firm from day one that’s very intentionally designed for future generations to come.”
For this deal, Alaris Acquisitions served as the adviser.
Established in 2010 as a subsidiary of Cambridge Investment Research, Ledge Wealth evolved as an autonomous registered investment advisor in 2012. Its mission is to offer wealthy individuals, families, and company owners impartial investment advice and legacy planning.
