Peter Raimondi, the founder of advisory firms Banyan Partners and The Colony Group, has launched a new wealth management firm in Florida called Dakota Wealth Management.

Dakota will offer personalised investment strategies for HNWIs, families and institutions. The firm will incorporate an acquisition-based growth strategy by identifying advisory firms with a similar profile.

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Raimondi will serve as the CEO and CIO of the new business, which will have $600m in assets at launch.

“We founded Dakota on the premise that wealth management is a blend of art and science. Our team of skilled professionals bring care, empathy, differentiated investment strategies and thoughtfully designed portfolios for each and every client. This distinctive approach sets a new standard for individual wealth management,” Raimondi stated.

Raimondi will be joined by a team from Massachusetts-based Oakmont Partners, which brings over $300m in assets to Dakota. Oakmont principals John DeSimone, Mimi O’Bara and Peter Mawn will join the leadership team of Dakota.

“Peter’s vision for Dakota aligns completely with our personalised client approach and values. We joined Dakota because we are confident that Peter and his team will honour the business we have built, and that being part of a larger firm will bring us broader capabilities and allow us to provide a higher level of service to our clients,” Mawn said.

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Brett Orvieto and his team from Florida’s Strategic Asset Management Group will also join Dakota, adding around $150m to Dakota’s books.