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.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.
The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.
Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
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.
