Lido Advisors has taken another step in its inorganic growth strategy with a deal to merge in a multigenerational planning firm in its Los Angeles home base.
On Tuesday, Lido announced its latest merger with Avitas Wealth Management, an LA-based RIA specializing in multigenerational family wealth.
The partnership will bring an additional $1.1 billion in regulatory assets under management to Lido, which managed over $24 billion as of October.
In a statement, Ken Stern, president of Lido Advisors, highlighted the alignment between the Avitas team's "dedication to providing a bespoke wealth management experience for multigenerational families" and Lido's "commitment to delivering personalized, high-impact solutions."
"With our common roots in Los Angeles, this partnership will strengthen our presence and further enhance our ability to serve clients locally and beyond,” Stern said.
The incoming team from Avitas is led by partners Eric Taslitz, Catherine Gerst, and Greg Satz, each of whom bring decades of industry experience that include tenures at UBS and Merrill Lynch.
"We've always believed that clients deserve more than one-size-fits-all solutions – they deserve personalized, tailored financial strategies that align with their unique needs and long-term goals,” said Taslitz. “Lido shares this philosophy, making them a natural partner for us.”
Jason Ozur, CEO of Lido Advisors, highlighted his firm's "very thoughtful and diligent strategy to expand our offerings and align with world-class talent."
Since 2021, Lido has focused on combining organic growth with selective acquisitions, tripling its regulatory assets under management since 2020 while expanding its operational footprint to more than 30 offices across the US. Most recently in October, it extended its presence in Wisconsin by snapping up $3 billion wealth firm Pegasus Partners, then forged another partnership with $600 million indie RIA Platte River Wealth Advisors in Colorado.
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.
Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.
With more than $13 billion in assets, American Portfolios Advisors closed last October.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
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.
