Lido Advisors Acquires $1.1B Fellow LA Wealth Firm
Lido Advisors, LLC, a wealth advisory firm for high-net-worth individuals, is expanding its footprint in Los Angeles with the acquisition of Avitas Wealth Management, LLC., a firm with more than $1.1 billion in assets under management that specializes in serving multigenerational families.
The team of lead partners at Avitas joining Lido are Eric Taslitz, Catherine Gerst, and Greg Satz.
“The cultural alignment and the opportunity to further strengthen our home base in Los Angeles made this partnership an obvious choice to help us grow our clientele while providing them with exceptional investment and wealth management,” said Jason Ozur, CEO of Lido.
Founded in 1999 and headquartered in Los Angeles, Lido manages more than $24 billion in assets. It currently has about 130 advisors and more than 30 offices nationwide. The firm offers financial planning, investment management and third-party tax, trust and estate services to more than 4,700 clients.
The firm has more than tripled its assets since 2020 and continues its momentum, having announced deals in Colorado and Wisconsin over the past two months.
In January, Lido announced that Karl Heckenberg’s Constellation Wealth Capital, an investor in wealth management firms, became a strategic partner and minority investor, joining Lido’s lead investor private equity firm Charlesbank Capital Partners.
David Selig of Advice Dynamics Partners served as the exclusive advisor to Avitas in the transaction.