Evoke Advisors Acquires Crescent Bay Advisors to Create Comprehensive RIA and In-House Family Office Firm

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Oct 30, 2024, 09:57 ET

LOS ANGELES, Oct. 30, 2024 /PRNewswire/ -- Evoke Advisors ("Evoke"), a $25.3 billion^† registered investment advisory firm, announced the strategic acquisition of the business of Crescent Bay Advisors (CBA), a multi-family office. The acquisition will enhance Evoke's current service offerings and allow the firm to provide a full range of family office services to their clients, which include ultra-high net worth families and individuals. The combined firm is headquartered in Los Angeles with additional office locations in Orange County, California, and West Palm Beach, Florida.

Evoke's Co-Founder and Managing Partner, David Hou, commented: "Our mission since the founding of Evoke has been to create a client-focused organization. The acquisition of CBA supports this mission by adding a Family Office Services team that provides a customized and fully integrated client experience. We are confident, based on our long history with the partners of CBA, that their expertise and quality of service will seamlessly integrate with Evoke's services to support the full range of client financial needs and protection of their family legacy."

CBA's Founder and President Larry Abrahams noted: "We are pleased to officially formalize our partnership with Evoke, who we have worked closely with since our founding. This opportunity seamlessly blends our comprehensive Family Office Services with Evoke's full range of investment management, financial planning, and tax services. We are excited to be able to partner with a firm that aligns with our core values of acting as a true fiduciary partner, providing unbiased advice, and identifying select investment opportunities that put our clients' needs first."

Larry joins Evoke as a Managing Partner of the firm with existing Managing Partners: David Hou, Mark Sear, Eric Bright, Darell Krasnoff, Andrew Palmer, Alex Shahidi, and Damien Bisserier.

Terms of the transaction are confidential and are not being disclosed.

About Evoke Advisors

Evoke Advisors, an SEC-registered investment adviser founded in May 2019, currently manages $25.3 billion^† in AUM, and was ranked #1 on Forbes' "America's Top RIA firms" list in 2022*, 2023** and 2024.*** Among other service offerings, Evoke, and its team of experienced entrepreneurs and investors, provides holistic and personalized financial planning and discretionary and non-discretionary investment advisory services to a variety of clients.

About Crescent Bay Advisors

Crescent Bay Advisors was founded in 2009 as a multi-family office with a mission to serve the unique needs and challenges of ultra-high-net-worth individuals and families. Since its inception, CBA has delivered a broad range of services tailored to each client's specific circumstances and needs, including estate planning, personal accounting and bill pay, risk management, and multiple entity management.

*Source: The Forbes "America's Top RIA Firms" list published by Forbes/SHOOK® Research, LLC ("SHOOK®"). Ranking published on October 25, 2022, and based on data as of December 31, 2021, as provided by SHOOK®. Evoke neither received from nor provided compensation to Forbes/SHOOK® with respect to this ranking.

**Source: The Forbes "America's Top RIA Firms" list published by Forbes/SHOOK® Research, LLC ("SHOOK®"). Ranking published on October 10, 2023, and based on data as of March 31, 2023, as provided by SHOOK®. Evoke neither received from nor provided compensation to Forbes/SHOOK® with respect to this ranking.

***Source: The Forbes "America's Top RIA Firms" list published by Forbes/SHOOK® Research, LLC ("SHOOK®"). Ranking published on October 8, 2024, and based on data as of March 31, 2024, as provided by SHOOK®. Evoke neither received from nor provided compensation to Forbes/SHOOK® with respect to this ranking.

For the 2022, 2023 and 2024 Forbes "America's Top RIA Firms" rankings, Forbes accepts advisors who meet pre-determined minimum thresholds and acceptable compliance records. America's Top RIA Firms ranking is based on an algorithm of qualitative criteria, mostly gained through telephone, virtual and in-person due diligence interviews, and quantitative data.

The algorithm weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices and approach to working with clients.

These rankings should not be interpreted as an endorsement and no ranking or award implies any level of skill or training. Rankings and recognition from Forbes are no guarantee of the advisor's, or Evoke's, future investment success. Evoke is not affiliated with Forbes/SHOOK®. Past performance does not guarantee future results.

^†Evoke Advisors AUM data is as of 9/30/24.

The press release is for general informational purposes, and nothing herein should be construed as an offer to sell or the solicitation of any offer to buy any security, other financial instrument, service or product offered or managed by Evoke.

Media Contact: [email protected]

SOURCE Evoke Advisors