Strategic move propels AUM to approximately $4.9 billion, bringing added expertise in employer-sponsored plans
In a significant move to fortify its position in the wealth management landscape, Dakota Wealth Management has inked a deal to acquire Ledge Wealth Management, Inc., a registered investment advisory firm based in Sartell, MN. The strategic acquisition, with a focus on intentional growth, bolsters Dakota Wealth’s Assets Under Management (AUM) to an impressive ~$4.9 billion.
The founder and CEO of Ledge Wealth, Kurt Durrwachter, along with COO and partner Gina K. Bartell, and their team of six associates, will join Dakota Wealth Management in key leadership roles. This move not only expands Dakota Wealth’s reach but also brings in seasoned professionals with expertise in designing employer-sponsored plans for business owners.
Peter Raimondi, Founder and CEO of Dakota Wealth Management, emphasized the deliberate nature of such acquisitions, stating, “We add firms intentionally and purposefully.” The union with Ledge aligns with Dakota Wealth’s commitment to providing exceptional wealth management services while tapping into the specialized skills of the Ledge team in the realm of employer-sponsored plans.
Client service and advice remain paramount throughout the transition. The professional teams from both Dakota Wealth Management and Ledge Wealth will stay in place, ensuring a seamless experience for their current clientele. Kurt Durrwachter and Gina K. Bartell will assume the roles of Managing Directors at Dakota Wealth.
Reflecting on the decision to join forces, Kurt Durrwachter noted, “It was very important to find a stable but growing company that was interested in continuing to encourage entrepreneurship. I think Peter has built a firm from day one that’s very intentionally designed for future generations to come.”
The transaction was advised by Alaris Acquisitions, with Allen Darby, CEO of Alaris Acquisitions, highlighting the cultural alignment between Dakota and Ledge as a key factor. He expressed excitement about Dakota’s operational expertise providing significant capacity gains to the Ledge team within an entrepreneurial setting.
This acquisition marks Dakota Wealth Management’s second office in Minnesota and adds to its growing footprint, now boasting 15 offices across 9 states. Ledge Wealth, originally founded in 2010 and later becoming an independent registered investment advisor in 2012, has been committed to providing unbiased investment advice and legacy planning for high net worth individuals, families, and business owners.
As Dakota Wealth Management continues its journey, blending organic growth with strategic acquisitions, this move underscores its dedication to delivering a transformational wealth management experience for clients and partners alike.
