Los Angeles-based RIA Miracle Mile is bolstering its appeal to high-net-worth investors with a key addition to its C-suite. On Thursday, the firm announced the appointment of Matt Dmytryszyn as its chief investment officer.
In his new role, Dmytryszyn will helm the firm's investments team, chair the investment committee, and set the direction for its research initiatives.
Tasked with overseeing portfolio management, trading, and strategic implementations, Dmytryszyn is set to ensure that clients receive top-tier guidance to enhance investment outcomes. He will directly report to Bruce Milam, CEO of Miracle Mile.
"Matt's analytical approach to complex issues and executive leadership style will yield penetrating, forward-looking research and guidance, giving our clients and advisors a critical advantage in today's ever-changing investment landscape," Milam said in a statement.
He expressed high hopes for Dmytryszyn’s leadership and Miracle Mile’s investments team, citing the firm’s “ongoing effort to deliver added value to [clients]" as they expand nationally and welcome more advisors.
Following a merger with Karp Capital Management and an investment from Corsair Capital in 2022, Miracle Mile now manages approximately $5.7 billion in client assets, supported by 27 advisors and more than 70 employees as of February.
Previously, Dmytryszyn served as chief investment officer at Telemus Capital, which was recently scooped up by Kovitz Investment Group Partners. His earlier positions include principal senior research analyst at LaSalle Street Capital Management and roles at Russell Investments and Piper Jaffray.
Beyond his quarter-century career in financial services, he served as chairman of the associate board for the local United Way for two years and is a board member of Bridge Communities, which assists homeless families in achieving self-sufficiency.
"Providing authoritative and proprietary research is increasingly becoming a critical differentiator for elite RIAs, with advisors today looking for every edge possible to navigate the current dynamic market environment and develop customized investment strategies for their high-net-worth clients," Dmytryszyn said.
This strategic hire follows Miracle Mile’s recent expansion efforts, including the opening of a new office in Seattle and welcoming two firms in Baltimore and Chicago with combined assets of $600 million.
LPL Financial and Raymond James also add independent advisors from Osaic and Edward Jones in Michigan and Arizona.
The SEC-registered RIA advises on more than $1 billion in client assets, with no advisory fee through 2027 and no human financial advisors.
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