Asia Martin | WealthManagement.com | Apr 08, 2021
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Mark Mitamura, founder and CEO of The Reserve Investments in Newport Beach, Calif. has departed one LPL Financial firm to join another. Mitamura and eight members of The Reserve team joined Integrated Partners, an office of supervisory jurisdiction, from Level Four Wealth Management, according to a Thursday announcement.
Mitamura said he had ambitions to grow Reserve, with $250 million in assets under management and 550 clients, to $1 billion in AUM over the next four years. He focuses on business owners, and Integrated Partners will help him add more services to target larger clients, he says.
“Our average growth rate was about 30% per year. We had some big years where we made some acquisitions, as well. But we were never offered assistance for acceleration and that’s the big differentiator,” said Mitamura about his decision to join Integrated.
Reserve will work with Integrated’s practice acquisitions division headed by Alex Chalekian, founder of Lake Avenue Financial, to identify the firms that might be a good fit for Mitamura.
For its clients, Reserve will tap Integrated Partners’ business alliance program, which works with the advisor to offer advanced planning, estate planning, investment advice, and assistance with locating buyers.
“[Reserve is] very entrepreneurially driven; they built a business. We talk a lot about taking a practice and converting it over to a business and Mark did that prior to coming to Integrated Partners,” said Rob Sandrew, chief growth officer at Integrated Partners.
Mitamura started in the independent channel and launched his own practice in 2011. Through a partnership with a public accountant, he found his client niche and began to focus on offering defined benefit plans to small-to-medium sized businesses.
Reserve joins Tallahassee, Fla.-based The Vedder Group and One Vision Retirement, a newly launched firm by Lisa Sakai and Chris Whalen, in adding over $600 million in AUM to Integrated. The LPL affiliate has picked up approximately $4 billion in AUM and about 50 advisors over the past four years, says Sandrew.
Integrated Partners has $10 billion in assets under administration and $5 billion in AUM, according to its ADV.