Private Ocean, a California-based wealth management firm, has acquired Lakeview Financial Group, a Washington-based investment advisory firm.
Lakeview, established in 2006, currently manages $380m in assets. Private Ocean was set up by Richard Stone and Greg Friedman in 2009 and currently oversees over $1.2bn in assets.
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Following the acquisition, Lakeview will continue to operate from its existing Seattle base but will adopt the Private Ocean brand.
Private Ocean CEO and co-founder Greg Friedman said: “Private Ocean is always striving to grow intentionally, and with our shared values and culture with the team at Lakeview, we saw a perfect fit. We are delighted to expand our services to clients on the West Coast and beyond, and look forward to working alongside these experienced, successful and talented advisers.”
Lakeview partner Julie Back added: “Over the last 18 months since we initially met Greg and the Private Ocean team, we have been struck by our firms’ similarities in philosophy and the client process. We look forward to joining forces to further our shared vision of personable, hands-on client service and collaborative relationships built on trust.”
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