This acquisition brings Miracle Mile’s total assets under management to $7.4bn. Credit: Vardan Papikyan on Unsplash

Los Angeles-based RIA Miracle Mile Advisors has acquired Offit Advisors, a Maryland-based firm with $194m in client assets.

This acquisition marks the fourth advisory team added to Miracle Mile’s portfolio in 2024, bringing its total assets under management to $7.4bn.

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Offit Advisors, led by Founder and CEO Ben Offit, is known for its comprehensive financial planning and multi-generational wealth transfer strategies.

Its addition marks a significant step in Miracle Mile’s recent growth initiatives, which have included the integration of two firms earlier in 2024 with combined client assets of $600m, the opening of a Seattle office in January, and the launch of a Chicago office in October.

Miracle Mile has also enhanced its executive team by appointing Matt Dmytryszyn as the chief investment officer in April and integrated a California-based practice managing approximately $731m in assets, focusing on ultra-high-net-worth individuals.

Commenting on the expansion, Miracle Mile CEO Bruce Milam stated: “We’ve created a unique model that resonates strongly with successful firms looking for their next chapter of growth. New partners consistently cite our differentiated approach – emphasising professional leadership, meaningful equity participation, and resources that preserve entrepreneurial spirit while enabling growth.”

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Echoing the positive sentiment, Ben Offit expressed confidence in the partnership, saying: “After careful consideration and diligent research, we recognised that Miracle Mile’s infrastructure, technology, and comprehensive support would significantly enhance our ability to serve clients. Its collaborative culture and commitment to maintaining the personal touch that our clients value made this an ideal fit. We are looking forward to all that we can accomplish with the assistance and resources of Miracle Mile in the areas of financial planning, taxes, retirement, investments, insurance, estate planning, and philanthropic planning.”