Miracle Mile is starting December in strong fashion with another acquisition in the East Coast.
On Tuesday, Miracle Mile Advisors announced its acquisition of Columbia, Maryland-based Offit Advisors, a move that boosts Miracle Mile’s assets under management's total AUM to $7.4 billion while marking its fourth deal this year.
Offit Advisors, led by founder Ben Offit, specializes in comprehensive financial planning and multi-generational wealth transfer strategies. The firm manages approximately $194 million in client assets.
Counting the Offit Advisors acquisition, Miracle Mile has added $2.1 billion in assets in 2024, including its addition of two firms managing $600 million combined in February, integrated a California-based practice with $731 million in assets.
“After careful consideration and diligent research, we recognized that Miracle Mile's infrastructure, technology, and comprehensive support would significantly enhance our ability to serve clients," Offit said in a statement, further highlighting the ideal fit from "[Miracle Mile's] collaborative culture and commitment to maintaining the personal touch.”
Continuing in that vein, Bruce Milam, chief executive officer of Miracle Mile, emphasized the shared values and growth opportunities driving the deal.
“Our foundation starts with a shared commitment to client success. We've created a unique model that resonates strongly with successful firms looking for their next chapter of growth,” Milam said. “New partners consistently cite our differentiated approach – emphasizing professional leadership, meaningful equity participation, and resources that preserve entrepreneurial spirit while enabling growth.”
Miracle Mile's partnership with Offit comes on the back of another significant win with its new Chicago office location unveiled in November. The new office is led by Matt Dmytryszyn, who was appointed as Miracle Mile's chief investment officer in April.
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