BOULDER and LOVELAND — Colorado Financial Management Inc., with offices in Loveland, Boulder and Denver, will merge with Lido Advisors LLC, a Los Angeles-based wealth management firm for high-net-worth individuals.
CFM is an independent registered investment adviser offering financial planning and personalized investment management. Founded in 1988, CFM has 28 professionals and associates managing more than $2 billion assets. All of CFM’s advisers will remain after the transaction, which is expected to close in the first quarter of 2023. CFM advisers will become equity owners in Lido.
Lido has $12 billion in assets under management, with 28 offices across the United States.
“At Lido, we’re always looking for entrepreneurial and culturally aligned partners who can help us continue to build a preeminent wealth management firm,” Jason Ozur, Lido’s CEO, said in a written statement. “We are not motivated to achieve scale for the sake of scale. Instead, we seek firms that want to be true partners with a voice and the opportunity to be additive to Lido’s evolution. CFM’s growth-focused, tenured, and highly credentialed team is exactly that type of firm.”
“We chose to partner with Lido because of the strong alignment between our firms,” said Brad Bickham, managing partner of CFM. “Like CFM, Lido has a client-centric approach that considers estate, tax and investment management with care and transparency for every client. Lido’s family office approach and commitment to partnership deeply resonated with our team and our vision for our clients. We look forward to staying true to our roots as a local fiduciary while generating a greater impact for our clients’ lives and legacies.”
Bickham said that CFM will retain its name and will keep its Colorado offices. “We anticipate that this will improve our growth. I’d like to cover the whole state,” Bickham said.
Financial terms of the transaction were not disclosed. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo PC served as legal counsel to Lido. David Selig of Advice Dynamics Partners LLC served as the financial adviser to CFM, and Hanson Bridgett LLP served as its legal counsel.