Dakota Wealth Management, the RIA created about five years ago by Peter Raimondi—who previously founded Banyan Partners and The Colony Group—announced its first acquisition of the year.
The firm has signed a deal with C2C Wealth Management, a Mansfield, Mass.-based RIA with about $350 million in assets under management and an additional $550 million in assets under advisement.
The deal represents Dakota’s fourth transaction since June 1, and third office in Massachusetts. It follows the RIA’s acquisitions of Stillwater Investment Management, Jonathan D. Pond LLC and JMG Wealth Management Group. Dakota now has 14 offices in nine states.
C2C was founded by Louis Delle Valle in 2016, with advisor Maureen Mackowski after breaking away from LPL Financial. Mackowski has retired. Delle Valle and client services associate Carol Donnelly will join Dakota.
"My business has been growing rapidly, and I needed to evaluate if I wanted to build out the infrastructure and add personnel or find a partner with those things already in place that can help maintain my growth trajectory," said Della Valle in a statement.
Raimondi, who founded RIAs Banyan Partners and The Colony Group, created Dakota in 2018 in Palm Beach Gardens, Fla., with over $600 million in assets at the time. He brought together teams from Oakmont Partners and Strategic Asset Management Group. The firm now has nearly $4 billion in total assets.
Last year, Emigrant Partners took a minority, noncontrolling stake in Dakota, after exiting its partnership with Parallel Advisors.