Brett Orvieto, Managing Director and Senior Wealth Advisor at Dakota Wealth Management, joined Keith Black, Managing Director at RIA Channel, to discuss asset growth at his advisory firm.
Dakota Wealth Management was named to the RIA Channel’s list of the top 50 wealth managers by growth in assets, growing AUM by 109% to reach $5.3 billion at the end of 2023. Dakota started with $500 million in AUM in 2018 and now has 15 offices in nine states. Dakota has grown both organically and through acquisitions, closing five deals in late 2023.,
In addition to working with clients on investments and financial planning, Orvieto also works with advisors grow and get the most out of their practice. Over 70 of Dakota’s 85 employees own equity in the firm, which helps to create a great team atmosphere. Additionally, half of the team are women and 40% of the firm are younger than age 40. As Dakota grows, its areas of expertise expand, providing greater resources to the smaller advisor teams that have joined the firm. The firm gathers in person each year to build and maintain relationships and a cohesive culture. Part of the Dakota culture is to raise funds for charities on both national and local levels.
Resources:
RIA Channel’s list of the top 50 wealth managers by growth in assets