Dakota Wealth Management, an investment advisor in Florida, announced on Tuesday that it is buying Springside Partners, an RIA in Ohio, boosting its total AUM over $1 billion.

Springside Partners, based in Akron, Ohio, is an RIA with about $300 million in AUM that was founded by Carina Diamond, who also serves as CEO. Dakota, with just over $700 million in AUM, is based in Palm Beach Gardens, Fla.

“Our profession needs more diverse leaders like Carina,” said Peter Raimondi, founder, CEO and chief investment officer of Dakota Wealth Management, in released comments. “The perspective that she and the Springside team adds will serve both our male and female clients well. In addition, this acquisition allows us the important opportunity to expand our brand in the Midwest.”

After the acquisition, both firms will keep their professional teams of advisors and support staff in place, the release said.

Diamond will join Dakota Wealth as chief client experience officer, the release said. In addition to retaining her own clients, she will also be responsible for overseeing client service for all of Dakota Wealth’s advisors. She will also serve on the firm’s executive committee.

“The unbiased advice and customized solutions that Springside has been known for will continue with Dakota,” Diamond said in released comments. “Peter’s vision for Dakota and his team’s dedication to high quality service for a very similar clientele demographic makes this a perfect fit for Springside.”

Additional terms of the Springside Partners acquisition were not announced on Monday.

Raimondi founded Dakota Wealth Management in 2018 after building two previous billion-dollar AUM RIA firms. Dakota Wealth launched with $600 million AUM and a goal of reaching $5 billion assets via organic growth and acquisitions.

Raimondi’s first firm, the Colony Group, was launched from his parent’s basement in 1986 after he spent two years at Ayco, a planning firm for executives and corporate employees. Today, The Colony Group is among the largest RIAs in Boston and is considered one of the most successful planning firms operating under the umbrella of Focus Financial Partners, which purchased the RIA in 2011.

Raimondi’s most recent firm, Banyan Partners, was founded in 2006 and sold to Boston Private in 2014 for an estimated $60 million.