Lido Advisors Expands Footprint with Acquisition of Avitas Wealth Management
Los Angeles-based Lido Advisors, a prominent wealth management firm overseeing $24 billion in assets, announced on Tuesday the acquisition of Avitas Wealth Management, marking their second acquisition exceeding $1 billion in assets this quarter.
A Strategic Move in Wealth Management
The deal underscores Lido Advisors’ commitment to strategic growth and expanding its reach within the affluent client segment. Avitas Wealth Management, also headquartered in Los Angeles, brings a strong track record of managing $1.1 billion in assets as of September 30. Lido Advisors highlighted that Avitas’ clientele primarily consists of multigenerational families, a demographic that Lido Advisors is strategically targeting for long-term growth.
A Team with Deep Expertise
With a team of 12 experienced professionals, Avitas Wealth Management is led by managing principal Eric Taslitz and principals Catherine Gerst and Greg Satz. The trio established the RIA in 2017 following their departures from UBS, bringing with them a wealth of industry knowledge and a commitment to personalized client service.
Seamless Integration
The acquisition is expected to be seamlessly integrated into Lido Advisors’ existing infrastructure, allowing Avitas Wealth Management’s clients to benefit from Lido’s comprehensive suite of financial planning, investment management, and wealth advisory services.
Expanding Capabilities and Client Reach
“Lido Advisors has a proven track record of providing exceptional financial services to its clients,” said Taslitz. “We are excited to join the Lido team and believe that this partnership will create significant value for our clients.”
The addition of Avitas Wealth Management expands Lido Advisors’ geographic footprint within Los Angeles and strengthens its position as a leading provider of wealth management solutions to affluent families. The deal showcases Lido Advisors’ dedication to attracting top talent and expanding its capabilities to better serve its growing client base.
“We are thrilled to welcome the Avitas Wealth Management team to Lido Advisors,” said a representative from Lido Advisors. “We believe that their expertise in serving multigenerational families will be invaluable as we continue to grow our business.”
