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Dakota Wealth Administration, the RIA created about 5 years in the past by Peter Raimondi—who beforehand based Banyan Companions and The Colony Group—introduced its first acquisition of the yr.
The agency has signed a take care of C2C Wealth Administration, a Mansfield, Mass.-based RIA with about $350 million in belongings beneath administration and a further $550 million in belongings beneath advisement.
The deal represents Dakota’s fourth transaction since June 1, and third workplace in Massachusetts. It follows the RIA’s acquisitions of Stillwater Funding Administration, Jonathan D. Pond LLC and JMG Wealth Administration Group. Dakota now has 14 places of work in 9 states.
C2C was based by Louis Delle Valle in 2016, with advisor Maureen Mackowski after breaking away from LPL Monetary. Mackowski has retired. Delle Valle and shopper companies affiliate Carol Donnelly will be part of Dakota.
“My enterprise has been rising quickly, and I wanted to judge if I needed to construct out the infrastructure and add personnel or discover a companion with these issues already in place that may assist keep my development trajectory,” stated Della Valle in a press release.
Raimondi, who based RIAs Banyan Companions and The Colony Group, created Dakota in 2018 in Palm Seaside Gardens, Fla., with over $600 million in belongings on the time. He introduced collectively groups from Oakmont Companions and Strategic Asset Administration Group. The agency now has practically $4 billion in complete belongings.
Final yr, Emigrant Companions took a minority, noncontrolling stake in Dakota, after exiting its partnership with Parallel Advisors.
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