Lido Advisors Acquires $870M Tech Industry-Focused RIA
Lido Advisors, a Los Angeles-based RIA with $29 billion in client assets, has acquired BluePointe Capital Management, a Menlo Park, Calif.-based firm with $870 million in AUM.
BluePointe, a fee-only advisory firm, will give Lido a niche in advising tech industry entrepreneurs and executives in areas such as pre-liquidity event planning, alternative investment strategies, wealth preservation and legacy planning.
“They have deep roots and a keen understanding of clients at the heart of one of the world’s foremost innovation and wealth creation centers,” Lido CEO Jason Ozur said in a statement.
BluePointe founder and CEO Sanjeev Sardana will become a partner at Lido and will be joined by his team of seven.
Father-Son Duo Leave UBS to Start RIA On Kestra Platform
A father-son advisory team that used to be at UBS has started its own RIA on the Kestra Private Wealth Services platform.
Father and son John and Shea Marmion, both formerly of UBS, launched Turas Wealth Partners, according to BrokerCheck. The duo is based in Worthington, Ohio, just outside of Columbus, as part of Austin, Texas-based Kestra’s network of RIAs.
The new RIA was “born out of a desire to break free from the constraints of large financial institutions to create a truly client-first approach to wealth management,” according to an announcement. The Marmions also both spent time at Wells Fargo.
“Turas was founded with the goal of delivering personalized, flexible financial planning solutions tailored to each client’s unique needs,” Shea Marmion said in a statement.
Kestra is the independent broker/dealer subsidiary of Kestra Holdings.
Three Advisors with Combined $200M Join SFA’s Strategic Blueprint
Strategic Blueprint, a $2.8 billion RIA subsidiary of Atlanta-based SFA Partners, has added three firms with combined client assets of $200 million.
AdvicePoint and The Wealth Plan Company will become affiliates of Strategic Blueprint from their Wilmington, N.C., base, and Clarity Financial Advisors affiliate from the Seattle suburb of Bothell, Wash. The firms will keep their names.
“In a landscape dominated by large, private equity-fueled deals, Strategic Blueprint is succeeding by providing an alternative to the mass consolidation of RIAs into a handful of mega-firms,” Jamie Mackay, president and chief operating officer at SFA Partners, said in a statement.
AdvicePoint was founded in 2020 by Matt Stephens, who focuses on investments and tax planning for retirees. He was an advisor with Wells Fargo before going independent in 2013 with the Wealth Plan Company.
The Wealth Plan Company was founded by Brandon Haines in 2007 with broker/dealer LPL Financial and later Triad Advisors.
Clarity Financial Advisors was founded by Bob Hamm and is owned by his son, Robb Hamm.
SFA Partners comprises Strategic Blueprint, The Strategic Financial Alliance, an RIA and broker/dealer, and SFA Insurance Services.
Dynasty RIA DayMark Wealth Adds $200M Team
DayMark Wealth Partners, a Cincinnati-based RIA with $3.7 billion in assets that is part of the Dynasty Financial Partners network, has brought on a team led by an ex-Morgan Stanley advisor with about $200 million in client assets.
John Kaufman, formerly senior portfolio manager and alternative investments director at Morgan Stanley, will now be a managing partner at DayMark and lead the three-person team from his base in Park City, Utah. Gregg Kaplan, portfolio manager and partner, and Hilary Bryson, director of client relations, will be based in Chicago.
The advisors bring expertise in alternative asset investing, including real estate, private equity and hedge funds.