Dakota Wealth Management Expands Through Acquisition of Lokken Investment Group

Dakota Wealth Management Acquires Lokken Investment Group

In a significant move to bolster its commitment to personalized wealth management, Dakota Wealth Management has announced its acquisition of the Lokken Investment Group, a respected advisory firm based in Lewes, Delaware. This strategic acquisition is not just about expanding the firm's portfolio; it is rooted in a philosophy that prioritizes client needs and fosters continuity in service. With the integration of Lokken Investment Group's managed assets amounting to $455 million, Dakota's total assets under management will soar to approximately $7.5 billion.

The acquisition is a heartfelt tribute to the legacy of Lokken Investment Group’s late founder, Jon Lokken, known for his dedication to client-first strategies. Dakota aims to honor his vision by infusing their expansive resources and advanced technology while maintaining the high-touch, personalized approach that was a hallmark of Lokken’s service philosophy.

Peter Raimondi, the founder and CEO of Dakota Wealth Management, expressed his excitement regarding this development, stating, "The acquisition of Lokken represents a unique opportunity for Dakota to continue Jon Lokken's legacy. We are thrilled to partner with his exceptional team of professionals. Jon's culture of familial warmth and shared commitment to client service will seamlessly integrate into Dakota, ensuring our clients receive comprehensive wealth management services."

The Lokken team, led by Carrie Ruark, who has been with the firm for over 20 years, will continue to operate from their existing office, which is now designated as Dakota Wealth Management's 17th location nationwide. This strategic decision is crafted to preserve the trusted relationships clients have established with their advisors, ensuring a seamless transition that maintains the level of service they expect.

Karlyn Lokken, the late founder's wife, played a pivotal role in the selection of Dakota Wealth Management as the successor firm. She recounts the challenges she faced after her husband's untimely passing and the critical priorities she had in finding a firm that would honor his legacy. "My primary goals were to ensure our clients continue receiving the level of service they have been accustomed to, and to provide professional growth opportunities for the team he had established. Dakota fulfilled those needs remarkably well, aligning perfectly with our core values and philosophies," she stated, highlighting her confidence in Dakota’s capabilities to uphold her husband’s vision.

Jess Polito from Turkey Hill facilitated the introduction that paved the way for this transaction, showcasing the network of collaboration within the financial industry.

About Dakota Wealth Management

Dakota Wealth Management, an independent investment management firm, caters to high-net-worth individuals and families. Established by industry veteran Peter Raimondi and headquartered in Palm Beach Gardens, Florida, Dakota offers a personalized approach to wealth management, financial planning, estate, and tax services. With a national presence, Dakota continues to expand its services, ensuring that it meets the evolving needs of its clientele.

About Lokken Investment Group

Founded in 2008 by Jon Lokken, Lokken Investment Group has developed a reputation for its personalized financial planning and investment management services, driven by deep client relationships and a strong commitment to stewardship. This merger not only represents an acquisition but also a continuation of values rooted in exceptional client service and long-lasting relationships, paving the way for a secure financial future for their clients.

In conclusion, Dakota Wealth Management's strategic acquisition of Lokken Investment Group illustrates a robust commitment to not just growth, but also the safeguarding of legacy and personalized service in wealth management. This merger promises to bring extensive resources and heightened service quality to Lokken’s clients, ensuring they continue to receive exceptional care from trusted advisors.