Raimondi’s new firm, launching with more than $600 million in client assets,
offers bespoke portfolios and high-touch service
PALM BEACH GARDENS, Fla. – May 15, 2018 – Dakota Wealth Management, an independent investment management firm serving high-net-worth individuals and families, today announced its official launch. The firm, headquartered in Palm Beach Gardens, Fla., will be managing over $600 million in client assets. Founded by industry veteran Peter Raimondi, Dakota offers a highly personalized and tailored approach to wealth management at a time when the financial industry has resorted to passive investment strategies and computer-generated asset allocation models.
“We founded Dakota on the premise that wealth management is a blend of art and science. Our team of skilled professionals bring care, empathy, differentiated investment strategies and thoughtfully designed portfolios for each and every client,” said Founder, CEO and Chief Investment Officer Raimondi. “This distinctive approach sets a new standard for individual wealth management.”
Raimondi has more than 30 years of investment industry experience and previously founded and ran two other successful RIA firms: Banyan Partners and The Colony Group. As the CEO of Banyan Partners, which he founded in 2006, Raimondi acquired seven firms in five years and grew the business to $4.3 billion in client assets before selling to Boston Private in 2014. Prior to starting Banyan Partners, Raimondi founded The Colony Group in Boston, which he grew into a nationally respected financial counseling firm with more than 600 clients and $1 billion in assets between 1986 and 2006.
The founding partners of Dakota Wealth Management also include the team from Oakmont Partners, an independent RIA based in Peabody, Mass. with over $300 million in client assets under management. Oakmont principals John DeSimone, Peter Mawn and Myranda “Mimi” O’Bara will serve on the Dakota leadership team alongside Raimondi and his Chief Operating Officer Michael Reed.
“Peter’s vision for Dakota aligns completely with our personalized client approach and values,” said Peter Mawn, Dakota Wealth Management founding partner, and former founder and Managing Partner of Oakmont Partners. “We joined Dakota because we are confident that Peter and his team will honor the business we have built, and that being part of a larger firm will bring us broader capabilities and allow us to provide a higher level of service to our clients.”
Also joining the Dakota team as a Managing Partner is Brett Orvieto, formerly of Fort Lauderdale-based Strategic Asset Management Group. Brett and his team will add approximately $150 million to Dakota’s AUM bringing the total over $600 million under management.
Dakota’s acquisition-based growth strategy focuses on identifying existing RIA firms with a similar profile and philosophy that are seeking a partner to enhance and scale their businesses. Both Peter Raimondi and Peter Mawn have extensive experience with investment company acquisitions, having completed roughly 20 transactions between them over the course of their careers.
“We are delighted to have found a firm that shares our values, our focus on customized investment portfolio solutions as well as our commitment to outstanding client service. I believe partnering with Dakota will enhance our ability to serve our clients with a unique state-of-the-art offering,” said Mimi O’Bara, former Oakmont founder and Managing Partner.
“Dakota offers an extraordinary opportunity to partner with experienced and dedicated professionals to build a company that sets a higher standard for wealth management,” added John DeSimone, Dakota Wealth Management founding partner and former founder and Managing Partner at Oakmont Partners. “We are proud to be founding partners of Dakota and look forward to welcoming more advisors who share our passion and vision.”
About Dakota Wealth Management
Dakota Wealth Management is an independent investment management firm serving high-net-worth individuals, families and institutions. Headquartered in Palm Beach Gardens and founded by RIA industry veteran Peter Raimondi, Dakota focuses on crafting highly personalized and tailor-made investment strategies at a time when the financial industry has resorted to passive investing and computer-generated allocation models. Dakota’s team draws from a deep well of experience to provide clients with a comprehensive wealth management experience based on independent research and a rigorous analytical framework. For more information, visit www.dakotawm.com.