Miracle Mile Advisors’ New Strategic Partnership Boosts Assets Under Management to $7.4 Billion

Miracle Mile Advisors, a Los Angeles-based registered investment advisor (RIA) offering customized wealth management services to high-net-worth clients, has announced by press release that it has engaged in a strategic partnership with Offit Advisors in Maryland, which expands Miracle Mile’s East Coast presence and brings its assets under management (AUM) to $7.4 billion (as of 12/1/2024).

Offit Advisors has approximately $194 million in client assets and is the fourth advisory team added in 2024. Led by founder and chief executive officer Ben Offit, the firm brings deep expertise in comprehensive financial planning and multi-generational wealth transfer strategies.

“Our foundation starts with a shared commitment to client success,” said Bruce Milam, chief executive officer of Miracle Mile. “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 – emphasizing professional leadership, meaningful equity participation, and resources that preserve entrepreneurial spirit while enabling growth. These strategic partnerships validate our approach and demonstrate why more firms are increasingly choosing Miracle Mile as their ideal path forward.”

Offit noted, “After careful consideration and diligent research, we recognized 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.”

These strategic moves build upon Miracle Mile’s recent growth initiatives. The firm has steadily expanded its national presence, as evidenced by the addition of two firms earlier in 2024 with $600 million in combined client assets, the opening of its Seattle office in January, the enhancement of its C-suite with the hiring of Matt Dmytryszyn as chief investment officer in April, and the launch of its Chicago office in October. Additionally, Miracle Mile integrated a prominent California-based practice managing approximately $731 million in assets that specializes in ultra-high-net-worth individuals.

Information for this article was sourced from BusinessWire.