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Florida-based investment management firm launches operations

The Palm Beach Gardens, Fla.-based independent investment management firm Dakota Wealth Management announced its official launch.

Founded by Peter Raimondi, who will be CEO and chief investment officer, the company will manage more than $600 million in client assets. Raimondi founded Banyan Partners and the Colony Group.

The founding partners of Dakota Wealth also include the team from Oakmont Partners, an independent, registered investment adviser based in Peabody, Mass. Oakmont principals John DeSimone, Peter Mawn and Myranda O'Bara will serve on the Dakota leadership team alongside Raimondi and COO Michael Reed.

Also joining the Dakota team as a managing partner is Brett Orvieto, formerly of Fort Lauderdale, Fla.-based Strategic Asset Management Group. His team will add approximately $150 million to Dakota's assets under management, bringing the total to more than $600 million.