Dakota Wealth Management Grows Through Strategic Acquisition
Dakota Wealth Management, an independent investment management firm, has taken a significant step to enhance its offerings by acquiring Lokken Investment Group. This impressive firm, known for its dedication to high net worth clients, is based in Lewes, Delaware, and brings with it a portfolio of approximately $455 million in managed assets. With this acquisition, Dakota's total assets under management will reach nearly $7.5 billion, positioning the firm for new growth and expanded client services.
Continuity and Legacy of Client Service
This acquisition not only solidifies Dakota's asset base but also emphasizes the commitment to maintaining the personalized, client-first approach that Lokken Investment Group has upheld for years. The late Jon Lokken, the founder of Lokken Investment Group, built a firm that was synonymous with trust and service. Dakota Wealth Management respects this legacy and aims to blend the high-touch service philosophy nurtured by Jon with its own robust technological resources and professional depth.
A Vision for the Future
Peter Raimondi, the Founder and CEO of Dakota, has expressed his excitement regarding this integration. He believes that continuing Jon Lokken's legacy is not only an honor but also an opportunity to collaborate with a highly skilled team. "This partnership provides Dakota a platform to extend Jon's vision through the ongoing support of his dedicated professionals," remarked Raimondi. Dakota is set to launch its new office in Lewes, becoming the firm's 17th location nationwide.
Leadership and Client Relationship Continuity
The Lokken Investment Group team, led by Carrie Ruark, who has been with the firm for two decades, will merge seamlessly into Dakota. This team is enriched by the inclusion of Jon's daughter, Jessica Bimonte, ensuring that the essence of the original firm remains intact. The existing staff will continue to work with their trusted clients from their current location, thereby fostering the enduring relationships already established.
Client-Centric Approach Remains Key
Karlyn Lokken, wife of the late Jon, played a vital role in selecting Dakota Wealth Management as the successor to carry forward her husband's ideals. She expressed that her two main concerns were ensuring continuity of service for clients and providing a nurturing environment for the firm’s employees. Karlyn noted that Dakota aligned perfectly with her husband's vision and values, adding, "Dakota’s support reassures me that our clients will receive exceptional care for generations ahead. "
Strengthening Connections in the Market
Jess Polito of Turkey Hill was instrumental in bridging the connection between the two firms and facilitating the purchase. The joining of Dakota Wealth Management with Lokken Investment Group is a notable event in the investment advisory landscape, strengthening Dakota's presence and client offerings in the region.
About Dakota Wealth Management
Dakota Wealth Management specializes in serving high net worth individuals and families. With headquarters in Palm Beach Gardens, Florida, the firm prides itself on delivering tailored wealth management solutions, including financial planning, estate management, and tax services. Under the leadership of Peter Raimondi, Dakota has developed a national footprint, providing services across different states.
About Lokken Investment Group
Lokken Investment Group has built a solid reputation since its inception in 2008, focusing on delivering comprehensive financial planning and investment management services. Founded by Jon Lokken, the firm has continually fostered deep client relationships and maintained a steadfast commitment to stewardship. Now, integrated with Dakota, these core values will continue to thrive as they serve clients with enhanced resources.
Frequently Asked Questions
What does the acquisition mean for clients of Lokken Investment Group?
Clients will continue to work with the same trusted advisors they know, now backed by Dakota's robust resources and support.
How will this acquisition benefit Dakota Wealth Management?
This acquisition will significantly increase Dakota's assets under management and expand its reach into Delaware.
Who will lead the Lokken Investment Group team at Dakota?
Carrie Ruark, a long-standing member of Lokken Investment Group, will continue to lead the team within Dakota Wealth Management.
What values do Dakota Wealth Management and Lokken Investment Group share?
Both firms prioritize personalized client service and share a commitment to maintaining strong client-advisor relationships.
Can clients expect changes in the services offered?
Clients should expect an enhanced level of service due to increased resources while maintaining the same level of care they have always received.
