Dakota Wealth Management to Acquire Springside Partners
One-year-old independent firm makes fourth acquisition as AUM reaches $1billion
PALM BEACH GARDENS, Fla., May 20, 2019 /PRNewswire/ — Dakota Wealth Management, an independent investment management firm serving high-net-worth individuals and families, has entered into an agreement to acquire Springside Partners, a female-founded and operated wealth management firm in Akron, Ohio.
With the addition of Springside Partners, Dakota Wealth Management adds a firm that is dedicated to educating and empowering both its client and staff. Carina Diamond, founder and CEO of Springside Partners, has established herself as a leader and strong supporter of female involvement in wealth management. In 2018, she was named one of twenty Women to Watch by InvestmentNews1. Both Dakota Wealth Management and Springside Partners have a high percentage of female clients and are known for hiring and developing the best young talent of both genders.
“Our profession needs more diverse leaders like Carina,” said Peter Raimondi, Founder, CEO and Chief Investment Officer, Dakota Wealth Management. “The perspective that she and the Springside team adds will serve both our male and female clients well. In addition, this acquisition allows us the important opportunity to expand our brand in the Midwest.”
Client service and advice will remain the top priority for both companies throughout the transition. The professional teams from both Dakota Wealth Management and Springside Partners will remain in place to serve their current clientele. Diamond will join Dakota Wealth as Chief Client Experience Officer, responsible for advising her own clients and for overseeing client service for all advisors at the firm. She will also serve on the Firm’s Executive Committee.
“The unbiased advice and customized solutions that Springside has been known for will continue with Dakota,” said Diamond. “Peter’s vision for Dakota and his team’s dedication to high quality service for a very similar clientele demographic makes this a perfect fit for Springside.”
Springside Partners was founded in 2014 as a Registered Investment Advisor (RIA) by Carina Diamond, along with Brenda Hood and Patrick Hahn, to act as a fiduciary in providing rigorous, sophisticated financial management on a fee-only basis to individuals, families and organizations. The firm takes a holistic approach to wealth management and offers a range of services that include personalized financial, retirement and investment planning.
Dakota Wealth Management was launched in May 2018 to offer a highly personalized approach to wealth management in the face of the passive investment strategies and computer-generated asset allocation models relied on by so many other investment firms. Oakmont Partners, based in Peabody, Mass., was the first RIA to join Dakota in putting this disruptive model to work, followed by Brett Ovieto and team in Ft. Lauderdale, and most recently by the tax and advisory practice of GML Associates of Boston, earlier this year. Since its founding, Dakota Wealth Management has grown its assets under management to approximately $1 billion.
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 rejects automation and algorithms in favor of customization and skill. Peter founded and grew two other successful wealth management firms, Banyan Partners, LLC and The Colony Group. Dakota’s team of accomplished, passionate professionals elevates wealth management to an art, creating bespoke investment portfolios tailored to each individual client’s needs and circumstances. Dakota also provides a full suite of financial planning, estate and tax services for selected clients. For more information, visit www.dakotawm.com.
About Springside Partners
Springside Partners, LLC., is an SEC Investment Advisor and a woman-led firm. Springside Partners provides investment advisory services. The firm offers discretionary portfolio management services to individuals, trusts, estates, and charitable organizations. Springside Partners has a strategic relationship with Pershing Advisor Solutions member FINRA, SIPC. For more information visit: springsidepartnersllc.com.
1 In 2018, 350 candidates were considered for the award and 20 were selected. InvestmentNews determines nominees’ eligibility for the Women to Watch list based on leadership in the financial advisory industry, mentoring, and giving back to her community. Candidates did not pay a fee to be nominated but any marketing in connection with the selection is paid for at their expense. The award was independently granted by InvestmentNews. Candidates were not required to be a member of any organization to be eligible for nomination.