Dakota Wealth Management has acquired the tax and advisory practice of GML Associates, in Boston, Massachusetts, which will now operate under the Dakota Wealth Management brand.
Legal services will continue to be provided by GML Associates with Dakota’s Peter Raimondi and John DeSimone, both attorneys and members of the Massachusetts Bar Association, joining GML’s legal team.
GML Associates, which was founded in 1992 by Gary Locarno and later joined by Katelyn Ainsworth, is a consulting firm specialising in providing tax, business, estate and personal planning advice. The firm, which is comprised of attorneys and CPAs, has over 25 years industry experience providing clients with personalised estate planning and tax counselling designed to guide them through a wide range of services not typically offered by a single professional service firm.
The merger now allows Locarno and Ainsworth to continue servicing their clients under the Dakota Wealth Management banner, as well as gaining access to additional services such as investment management, greater wealth management resources, a diverse group of skilled professionals, and a wider geographic exposure.
“We are very excited to merge with Dakota Wealth Management and pleased to be a part of an organisation that has the resources that can help us add significant value to our clients. Peter’s vision for Dakota aligns completely with our personalised client approach and values, and his comprehensive approach to client services and forward-thinking culture has helped to make the merger of our two teams completely seamless,” says Locarno.
Dakota Wealth Management is an independent investment and wealth management firm, serving high-net-worth individuals, families and institutions with offices in Massachusetts and Florida.
“At Dakota, our distinctive approach has helped us forge a new standard for investment and wealth management. As a result, we are constantly looking for partners that align with our core principles and culture. I was deeply inspired by the passion and drive Gary and Katelyn exhibit when servicing their clients, together with the principles they have instilled within the GML Associates team as a whole. We are excited to welcome them and their unique skills to the Dakota Wealth Management family,” says Raimondi.
“By partnering with Dakota Wealth Management, we now have the opportunity to expand the scope and value of the services we provide our clients. Nothing means more to us than our clients and because Dakota’s core principles and culture align so well with ours, we believe this merger is in our clients’ best interests,” says Ainsworth.
Raimondi has more than 35 years of investment industry experience and previously founded and ran two other successful RIA firms: Banyan Partners and The Colony Group. As the CEO of Banyan Partners, which he founded in 2006, Raimondi acquired seven firms in five years and grew the business to USD4.3 billion in client assets before selling to Boston Private in 2014. Prior to starting Banyan Partners, Raimondi founded The Colony Group in Boston, which he grew into a nationally respected financial counselling firm with more than 600 clients and USD1 billion in assets between 1986 and 2006.