Miracle Mile Advisors, a registered investment adviser based in Los Angeles with $ 7.7 billion in client assets, has reunited as wealth of composition, a name that the firm says it better reflects its structure as a collection of wealth advisers and specialists across the country.
The new name also reflects the growth of RIA beyond its roots in Los Angeles; Miracle Mile is a neighborhood in Los Angeles containing a Wilshire Boulevard stretch between Fairfax and La Brea roads. But the firm hopes to be settled as a national wealth manager, with offices in San Francisco, San Diego, Seattle, New York, Baltimore/Washington, DC, Chicago and Portland, other than Los Angeles.
The firm now has nearly 100 employees, including 36 advisers and asset strategies and 32 customer service professionals. RIA has completed nine purchases, including four in 2024.
“We feel like the wealth of name composition represents better who we are today, which is a collective of councilors throughout the country who work together to help our clients write their success stories,” Ceo Bruce Milam said. “Nothing has been respectfully changed with the way we go to the market; we are still a first financial planning firm, plus investment. We have now added experts to wealth, tax, insurance; we have a dedicated home team with 10 people. We are really a composition of these experts working together to provide services to our clients.”
Rebrand also includes a new logo, which is intended to be a book, representing the financial stories that the firm helps clients create. Bright green colors stand for financial health, growth and stability. The new composition label is “Your story is our story”.
“The composition is a collection, but it's also a story,” Milam said. “We really think about the journey of a client as a story. We are better advisers by understanding and investing in that story. We very much want to understand the goals and objectives of a client through the financial plan. We want to understand the curves and returns that that story takes over their lives while they have children, as they think of pension.”
Established by managing partner Brock Moseley in 2007, Miracle Mile got a Investment of minorities from managing trading investments At the end of 2020 that supported the first four purchases of the firm. Two years later, the private capital firm Corsair Capital won Merchant's shares. At the same time, the firm announced that it was buying Karp Capital Management, a firm that administered $ 1.2 billion. This was the biggest purchase in the firm's history.
In June 2023, Ria appointed Milam As the first CEO in its 15-year history. He previously spent nine years as the leading operating operating official for freestone capital when the firm tripled assets.
Last April, firm named Matt dmytryszynFormer CIO in Telemus Capital, as the main investment official.
The composition of the composition added about $ 2.1 billion in new assets in 2024. This includes the addition of Two firms at the beginning of last year with a combined $ 600 million. The firm also recently integrated a California -based practice with about $ 731 million in wealth, and OffersAn asset management firm in Colombia, based on MD with about $ 194 million in client assets.