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Evoke Advisors completes acquisition of Crescent Bay Advisors to expand RIA and Family Office offerings

Oct 30, 2024about 1 year ago

Acquiring Company

Evoke Advisors

Acquired Company

Crescent Bay Advisors

Los AngelesCorona Del MarLendingFinanceFinancial ServicesReal Estate

Description

Evoke Advisors, a $25.3 billion SEC-registered investment advisory firm, has strategically acquired Crescent Bay Advisors, a multi-family office. This acquisition enhances Evoke's current service offerings, enabling the firm to provide a full range of family office services to their clients, which include ultra-high net worth families and individuals. The combined firm is headquartered in Los Angeles with additional office locations in Orange County, California, and West Palm Beach, Florida.

Company Information

Company

Evoke Advisors

Location

Los Angeles, California, United States

About

Evoke Advisors, an SEC-registered investment adviser founded in May 2019, currently manages $25.3 billion† in AUM, and was ranked #1 on Forbes' "America's Top RIA firms" list in 2022*, 2023** and 2024.*** Among other service offerings, Evoke, and its team of experienced entrepreneurs and investors, provides holistic and personalized financial planning and discretionary and non-discretionary investment advisory services to a variety of clients.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed