Dakota Wealth Management is to acquire a family-run practice in a deal which adds around $300 million to its AUM, taking it to near $4 billion.
The independent investment management firm has agreed to acquire JMG Wealth Management Group, affiliated with Raymond James, which has offices in Mechanicsburg, Pennsylvania and Hilton Head Island, South Carolina.
JMG was founded in 2011 and is led by Jeffrey M. Goyette, Sr. alongside his sons Jeffrey M. Goyette, Jr. and Jack Goyette, who are also wealth advisors; all three join Dakota as managing directors along with their head of operations Jessica L. Elscheid.
"Dakota's culture attracted us," added Jeff Goyette Jr. "Our business was built on the foundation of leaving a legacy. Joining a practice with peers that I can learn from and grow alongside positions us and our clients for generations. Dakota allows us to be even more thoughtful and intentional in helping our clients leave their legacy."
Professional teams from both firms will remain in place to serve their current clients.
The deal means Dakota Wealth will have two offices in Pennsylvania office and its first in South Carolina, taking its total footprint to 16 offices in 12 states.
"We look forward to leveraging our operational scale to add to their high-touch wealth management experience and to establishing our footprint in central Pennsylvania and beyond," said Peter Raimondi, Founder and CEO, Dakota Wealth Management.
Gladstone Associates is acting for JMG Wealth Management as its sole advisor on the transaction.
“Semiliquid funds are making private markets more accessible but are much pricier than public market funds,” according Morningstar.
Despite record plan participation, many workers remain at risk of inadequate retirement savings as Social Security’s future grows more uncertain.
New tie-ups with Advyzon, RightCapital and PreciseFP reflect growing demand for flexible, connected tools.
The recently rebranded Focus Partners Wealth is growing again, this time with a pending deal for a Fairfax, Virginia advisory firm.
The transaction significantly expands the firm's reach and capabilities.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
