Dakota Wealth Management has reached an agreement to acquire Springside Partners, a woman-led wealth management firm based in Akron, Ohio.

Carina Diamond founded Springside along with Brenda Hood and Patrick Hahn in 2014. It offers investment advisory services.

The firm offers discretionary portfolio management services to individuals, trusts, estates, and charitable organisations on a fee-only basis.

It also offers a wide array services including personalized financial, retirement and investment planning.

Dakota Wealth Management founder, CEO and chief investment officer Peter Raimondi said: “Our profession needs more diverse leaders like Carina.

“The perspective that she and the Springside team adds will serve both our male and female clients well. In addition, this acquisition allows us the important opportunity to expand our brand in the Midwest.”

Under the deal, Diamond will join Dakota Wealth as chief client experience officer.

She will be responsible for advising her own clients and for overseeing client service for all advisers at the firm.

Diamond stated: “The unbiased advice and customised solutions that Springside has been known for will continue with Dakota. Peter’s vision for Dakota and his team’s dedication to high quality service for a very similar clientele demographic makes this a perfect fit for Springside.”

Dakota Wealth Management, which was launched in 2018, offer a highly personalised approach to wealth management. It currently has approximately $1bn in assets under management.

Both the companies have a high percentage of female clients.