Composition Wealth Expands with Two New Acquisitions

News Summary

Composition Wealth, a national wealth management firm, has acquired Blue Oak Capital in California and Centricity Wealth Management in Ohio, increasing its assets under management to $9.3 billion. These acquisitions enhance the firm’s presence on the West Coast and Midwest, allowing it to better serve high-net-worth clients. As part of its growth strategy, Composition Wealth aims for additional mergers in key regions across the U.S. in 2025.

California – Composition Wealth, a national wealth management firm headquartered in Hauppauge, has made significant strides in its expansion efforts by acquiring two advisory firms, resulting in a boost of assets under management to $9.3 billion. This move marks a pivotal moment in the firm’s strategy to broaden its geographical footprint and diversify service offerings.

Through its acquisition of Blue Oak Capital, located in Silicon Valley, Composition Wealth has strengthened its presence on the West Coast. Blue Oak Capital, led by Thomas Baker, specializes in serving complex client needs and currently manages approximately $289 million in assets. The acquisition is expected to enhance Composition Wealth’s ability to cater to a diverse clientele, further solidifying its expertise in high-net-worth financial services.

In addition to its California expansion, Composition Wealth has entered the Ohio market by acquiring Centricity Wealth Management, a firm established by Chris and Wendy Ciehanski. Centricity Wealth Management brings in approximately $192 million in assets under management, focusing on the financial needs of 158 families and several charitable organizations. This acquisition allows Composition Wealth to tap into Ohio’s growing market and widen its reach in the Midwest.

These acquisitions are part of Composition Wealth’s overarching strategy to invigorate its national growth outlook following the company’s rebranding from Miracle Mile Advisors. CEO Bruce Milam emphasized the significance of both Blue Oak’s strong client-oriented approach and Centricity’s community engagement, both of which align with the firm’s goals of supporting high-net-worth clients that include business owners, individuals, and families.

Strategic Growth Through Acquisitions

The recent transactions have resulted in the opening of nine office locations across various regions, reflecting Composition Wealth’s commitment to enhancing its service network. The acquired firms will be rebranded under the Composition Wealth name post-acquisition, ensuring continuity in service while providing a unified brand experience for clients.

Target Areas for Future Growth

Composition Wealth’s aggressive expansion is not stopping with the latest acquisitions. The firm has laid out its ambition to pursue additional mergers and acquisitions in 2025, targeting key regions including New York, Boston, Austin, and Dallas. This forward-looking approach underlines the company’s intent to not only expand geographically but also to enhance the financial services it offers to a broader array of clientele.

Summary of Financial Impact

With these new acquisitions, Composition Wealth now manages a combined total of $481 million from the newly acquired firms alone, significantly contributing to its overall assets under management. These strategic moves illustrate the firm’s adaptability in recognizing and capitalizing on opportunities within the wealth management sector, thereby positioning itself as a competitive player in the industry.

As Composition Wealth continues to execute its growth strategy, industry analysts will be closely monitoring the outcomes of these acquisitions and the firm’s subsequent efforts to engage new clients while maintaining strong relationships with existing ones. The firm’s commitment to serving high-net-worth individuals and families remains at the forefront of its operational agenda as it navigates this new chapter of expansion.

Deeper Dive: News & Info About This Topic

• Long Island Business News
• Wikipedia: Wealth Management
• Citywire RIA
• Google Search: Composition Wealth expansion
• AdvisorHub