Strategic acquisition expands footprint in Virginia, brings Dakota Wealth AUM to approximately $2.5 billion
PALM BEACH GARDENS, Fla., January 1, 2022 — Dakota Wealth Management, an independent investment management firm serving high-net-worth individuals and families, has acquired Richmond, VA-based Pineno Levin & Ford Asset Management (PL&F), an investment management firm with approximately $425 million in AUM. PL&F is Dakota Wealth’s eighth transaction since its launch in May 2018.
“PL&F is helmed by two well-seasoned executives, both holding the CFA designation,” noted Peter Raimondi, Founder and CEO, Dakota Wealth Management, “We were attracted to its culture of integrity, success, and the respected industry reputation the PL&F team has established in its 28-year history.”
PL&F sought to join a larger firm to ensure proper continuity of planning and care for its clients.
“I wanted a partner who could ensure our transition and succession plan is well formulated with a multi-generational leadership structure that will continue to provide exceptional client service for many generations to come,” Francis A. Pineno, Principal of PL&F, noted. “With its growing presence in Virginia and its dynamic team, I felt Dakota was the ideal partner for us.”
Client service and advice will remain the top priority for both companies throughout the transition. The professional teams from both Dakota Wealth Management and PL&F will remain in place to serve their current clientele.
This is the second office in the Commonwealth of Virginia for Dakota Wealth Management. The Palm Beach Gardens, Fla.-based firm now has 13 offices in 9 U.S. states.
Pineno Levin & Ford Asset Management is an independent, employee-owned, SEC-registered investment advisor founded in 1994 to provide personalized money management services to individuals, estates, families, foundations, endowments, and both corporate and individual retirement plans.
Dakota Wealth Management was launched in May 2018 to deliver a transformational wealth management experience dedicated to creating multi-generational wealth and success for clients and partners. Since its founding, Dakota Wealth Management has grown assets under management both organically and through strategic acquisitions.
About Dakota Wealth Management
Dakota Wealth Management is an independent investment management, wealth and estate planning, and full-service tax planning firm serving high-net-worth individuals, families, and institutions. Headquartered in Palm Beach Gardens and founded by RIA industry veteran Peter Raimondi, Dakota elevates wealth management to an art with thoughtfully designed investment portfolios and personalized wealth management services. Dakota also provides a full suite of financial planning, estate and tax services for selected clients. For more information, visit www.dakotawm.com.
Dakota Wealth Management