Lido Advisors, LLC (Lido), a leading wealth management firm for high-net-worth individuals, announced today a signed agreement to partner with Colorado Financial Management (CFM), deepening Lido’s family office offering and Mountain West presence with a highly strategic partner.
CFM is a Colorado-based independent registered investment advisor (RIA) offering comprehensive financial planning and personalized investment management. Founded in 1988, CFM has cultivated deep roots across the Colorado community, with offices in Denver, Boulder, and Loveland, as well as recognition as one of Boulder’s oldest and largest RIAs. The firm’s 26 advisors, professionals, and associates, all of whom will remain following the transaction, manage approximately $2 billion in assets on behalf of a diverse group of primarily high-net-worth individuals, families, and institutions across Colorado and the United States.
“At Lido, we’re always looking for entrepreneurial and culturally aligned partners who can help us continue to build a preeminent wealth management firm,” said Jason Ozur, Lido’s Chief Executive Officer. “We are not motivated to achieve scale for the sake of scale. Instead, we seek firms that want to be true partners with a voice and the opportunity to be additive to Lido’s evolution. CFM’s growth-focused, tenured, and highly credentialed team is exactly that type of firm.”
Ken Stern, President of Lido Advisors, added, “We couldn’t have found a better partner to help Lido deepen its presence in the Mountain West. Managing the complexities of growing and protecting clients’ legacies is extremely challenging, requiring a team with skill, experience and passion. We look forward to joining forces with CFM and making a difference for our clients, our team, and our communities.”
“We chose to partner with Lido because of the strong alignment between our firms. Like CFM, Lido has a client-centric approach that considers estate, tax, and investment management with care and transparency for every client,” said Brad Bickham, Managing Partner of CFM. “Lido’s family office approach and commitment to partnership deeply resonated with our team and our vision for our clients. We look forward to staying true to our roots as a local fiduciary while generating a greater impact for our clients’ lives and legacies.”
The transaction is expected to close in Q1 2023, subject to customary closing conditions and regulatory approvals. Financial terms of the transaction were not disclosed. Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C. served as legal counsel to Lido. David Selig of Advice Dynamics Partners LLC served as the exclusive financial advisor to CFM, and Hanson Bridgett LLP served as its legal counsel.
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