Dakota Wealth Management Acquires Ledge Wealth Management, Inc.

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Jan 03, 2024, 14:03 ET

Strategic acquisition brings AUM to approximately $4.9 billion

PALM BEACH GARDENS, Fla., Jan. 3, 2024 /PRNewswire/ -- Dakota Wealth Management, an independent investment management firm serving high net worth individuals and families, has entered into an agreement to acquire Ledge Wealth Management, Inc., a registered investment advisory firm managing approximately $400 million in Sartell, MN. The firm advises on an additional $200 million in assets through its robust 401(k) advisory services business.

With the addition of Ledge, Dakota Wealth Management now manages ~$4.9 billion.

Ledge Wealth Management. Seated - Kurt Durrwachter, Gina Bartell. Standing from left to right - Robin Schaa, Sandra Middendorf, Seth Jungels, Chelsea Bentley, Kevin J. Kluesner, Sam Ronlund, Marshall Grams

Kurt Durrwachter, Founder and CEO of Ledge Wealth, joins Dakota Wealth along with COO and partner, Gina K. Bartell and six associates.

"We add firms intentionally and purposefully," said Peter Raimondi, Founder and CEO, Dakota Wealth Management. "In addition to providing exceptional wealth management counseling to individuals and families, Kurt and his team have demonstrated expertise in designing employer sponsored plans for business owners."

Client service and advice will remain the top priority for both companies throughout the transition. The professional teams from both Dakota Wealth Management and Ledge Wealth will remain in place to serve their current clientele. Mr. Durrwachter and Ms. Bartell will join Dakota Wealth as Managing Directors.

"It was very important to find a stable but growing company that was interested in continuing to encourage entrepreneurship," noted Durrwachter. "I think Peter has built a firm from day one that's very intentionally designed for future generations to come."

Alaris Acquisitions served as the advisor on this transaction.

"Alaris was delighted to participate in the role of advisor for this transaction, as we perceive a remarkable alignment of cultures between Dakota and Ledge," remarked Allen Darby, CEO of Alaris Acquisitions. "Dakota brings operational expertise that will provide Kurt and Gina with significant capacity gains, within an exceptionally entrepreneurial setting that empowers them to continue contributing to the ongoing development of the larger Dakota story."

This is the second Minnesota office for Dakota Wealth Management. The Palm Beach Gardens, Fla.-based firm now has 15 offices in 9 states.

Ledge Wealth was originally founded in 2010 as an affiliate of Cambridge Investment Research and became an independent registered investment advisor in 2012 committed to providing unbiased investment advice and legacy planning for high net worth individuals, families, and business owners.

Dakota Wealth Management was launched in May 2018 to deliver a transformational wealth management experience dedicated to creating multi-generational wealth and success for clients and partners. Since its founding, Dakota Wealth Management has grown assets under management both organically and through strategic acquisitions.

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 elevates wealth management to an art with thoughtfully designed investment portfolios and personalized wealth management services. Dakota also provides a full suite of financial planning, estate and tax services for selected clients. For more information, visit www.dakotawm.com.

SOURCE Dakota Wealth Management