NEW YORK--(BUSINESS WIRE)--Merchant Investment Management, LLC, today announced its partnership with Miracle Mile Advisors, an independent investment advisory firm based in Los Angeles with $2 billion in assets under management. The partnership, which includes a minority equity investment from Merchant, comes as the fast-growing RIA looks to accelerate both its organic and acquisitive growth initiatives.
Founded in 2007, Miracle Mile has prioritized investments in its technology toolset, its service infrastructure and the cultivation of next-gen talent in recent years. As a result, the firm has averaged growth of 30% year-over-year since 2016 while cultivating both an award-winning workplace and earning recognition for client service. Partnering with Merchant allows Miracle Mile to sustain the pace of its growth and innovation with the financial support and expertise of a team committed to the firm’s long-term independence and success.
"Miracle Mile has a crystal-clear vision of its future, and we see eye-to-eye on what is needed to grow into that vision," said Matt Brinker, managing partner at Merchant. "Because of our alignment with leadership, the broader opportunity, along with what the team has built to date, we have made a long-term investment in Miracle Mile's future as an independent RIA."
For Merchant, the partnership with Miracle Mile represents one of several key strategic investments the firm has made in 2020.
"Our consistent growth has confirmed our belief that we can bring something different to our clients and advisors. As a firm built by advisors to create a work environment tailored to supporting advisors, we know how important it is to reinvest back into our firm," explained Matt Granski, CFA, president at Miracle Mile Advisors. "We are excited to partner with Merchant as they support our emphasis on recruiting and cultivating next-generation talent, identifying and implementing difference-making technology and fostering an enriched client experience."
Today, with more than 30 total staff operating out of multiple offices in southern California, the firm’s focus on organic growth and next-gen recruitment sets it up for successful, sustainable acquisitive growth.
“Miracle Mile remains committed to a dual-track growth plan, combining acquisitions with organic growth efforts,” said Kevin Barlow, CFA, a managing director who joined the firm in 2019 as part of an earlier acquisition. "The firm’s investment in people, advanced technology and centralized operations continues to enhance both the advisor and client experience,” said Barlow. “The partnership with Merchant will give our team more fuel for growth and is an endorsement of what we are doing as a team.”
About Miracle Mile Advisors
Miracle Mile Advisors is a registered investment advisor committed to providing dynamic financial planning and custom investment management to high-net-worth individuals, families, business owners and institutions. Miracle Mile’s advisors integrate clients’ ambitions with best-in-class guidance, advice and technology, and have been recognized across leading industry awards such as Barron’s, Financial Times, Forbes, and Financial Advisor Magazine.
To learn more visit: www.miraclemileadvisors.com.
About Merchant Investment Management, LLC
Merchant is a private partnership providing growth capital, management resources, strategic opportunities and direction to independent financial services companies, particularly those focused on wealth and asset management. For additional information, please visit: www.merchantim.com.