Dakota Wealth Management is an independent investment management, wealth and estate planning, and full-service tax planning firm serving high-net-worth individuals, families, and institutions
Dakota Wealth Management's new Twin Cities area team. (Credit: PRNewswire/Dakota Wealth Management)
Dakota Wealth Management, an independent investment management firm serving high net worth individuals and families, has entered into an agreement to acquire Stillwater Investment Management, a family investment counseling office managing approximately $575 million in Stillwater, MN.
With the addition of Stillwater, Dakota Wealth Management now manages ~$3.2 billion, a five-fold increase in assets under management since its founding in May 2018.
James K. Tonrey, Jr., founder and CEO/CIO of Stillwater Investment Management, joins Dakota Wealth along with his advisory team, Amy L. Enderlein, Eric A. Bratvold, and Dana J. Tonrey.
“We add firms intentionally and thoughtfully,” said Peter Raimondi, Founder and CEO, Dakota Wealth Management. “Jim, Amy, Eric, and Dana share our client centric culture, and I am confident we share the same vision for Dakota’s next phase of growth.”
Client service and advice will remain the top priority for both companies throughout the transition. The professional teams from both Dakota Wealth Management and Stillwater Investment Management will remain in place to serve their current clientele. Mr. Tonrey will join Dakota Wealth as Senior Managing Director.
“Finding a trusted partner provides us flexibility and control in our integration,” Tonrey noted. “With Dakota’s support, I look forward to expanding the firm’s presence in the Twin Cities area in a smart, pragmatic, and focused manner.”
This is the first Minnesota office for Dakota Wealth Management. The Palm Beach Gardens, Fla.-based firm now has 15 offices in 12 states.
Stillwater Investment Management was founded in June 2004 as a Registered Investment Advisor (RIA) by Mr. Tonrey with a mission of restoring the highly regarded philosophy of the traditional family investment counseling office and offering this valuable service to individuals and families not in a position to establish their own.
Dakota Wealth Management was launched in May 2018 to deliver a transformational wealth management experience dedicated to creating multi-generational wealth and success for clients and partners. Since its founding, Dakota Wealth Management has grown assets under management both organically and through strategic acquisitions.
Source: Company Press Release