News Summary
Composition Wealth has expanded its assets under management to $9.3 billion through acquisitions in California and Ohio, enhancing its reach to high-net-worth clients. The firm acquired Blue Oak Capital in Silicon Valley, adding $289 million in assets, and Centricity Wealth Management in Ohio, managing $192 million. This strategy emphasizes the firm’s commitment to personalized wealth management services as it continues to grow its national presence.
California and Ohio
Composition Wealth, a national wealth management firm headquartered in Hauppauge, has significantly expanded its assets under management to $9.3 billion with recent acquisitions in California and Ohio. The firm has acquired Blue Oak Capital located in Silicon Valley, California, as well as Centricity Wealth Management in Ohio. This growth marks a strategic effort to broaden its geographical reach and enhance service offerings to high-net-worth clients, including business owners, individuals, and families.
The acquisition of Blue Oak Capital adds approximately $289 million to Composition Wealth’s assets. Blue Oak Capital is noted for its focus on serving complex clients under the leadership of Thomas Baker. In parallel, the firm has entered the Ohio market through Centricity Wealth Management, which manages about $192 million for 158 families and various charities. Chris and Wendy Ciehanski founded Centricity, known for its strong ties to the local community and commitment to client-centered financial planning.
Composition Wealth, which has recently undergone a rebranding from Miracle Mile Advisors, indicated that both Blue Oak Capital and Centricity Wealth Management will adopt the Composition branding post-acquisition. The acquisition of these advisory firms brings the total number of office locations opened by Composition Wealth to nine across the nation, reinforcing its national presence.
Bruce Milam, the CEO of Composition Wealth, emphasized the importance of Blue Oak’s client focus and Centricity’s commitment to community impact as key factors influencing these acquisitions. The firm aims to leverage these new locations to better serve its high-net-worth clientele in growing markets.
Expansion Strategy and Future Plans
The recent acquisitions reflect Composition Wealth’s ongoing national growth strategy, which includes targeting regions like New York, Boston, Austin, and Dallas for future expansion. In 2025 alone, the firm has completed several mergers and acquisitions, signifying an aggressive approach to expanding its influence in the wealth management sphere.
Composition Wealth’s strategy highlights increasing demand for personalized wealth management services among affluent clients across the nation, who require tailored financial solutions. By integrating established firms like Blue Oak and Centricity, Composition Wealth aims to harvest the local knowledge and expertise of these businesses while providing enhanced resources and services to their clientele.
The firm’s acquisition activity underscores the growing trend within the wealth management industry, where larger firms seek to enhance their service offerings and market reach through strategic partnerships and acquisitions. As Composition Wealth continues to grow its footprint, it sets the stage for a competitive edge in an evolving market landscape that demands adaptability and comprehensive financial services.
Overall, Composition Wealth’s recent moves are indicative of a broader trend in the wealth management industry, where firms of all sizes must adapt to the dynamic needs of wealth management clients, ensuring they receive the range of services and access to expertise that can help them navigate complex financial landscapes.
Deeper Dive: News & Info About This Topic
- Long Island Press: Composition Wealth Expands
- Citywire: Composition Wealth Seals Double Deal
- AdvisorHub: RIA M&A Round-Up
- Wikipedia: Wealth Management
- Google Search: Wealth Management Industry
