Lido Advisors Acquires Jackson Hole Capital Partners
Lido Advisors, a Los Angeles-based advisory firm with more than $42 billion in assets under management, has acquired Jackson Hole Capital Partners, a Tulsa, Okla.-based wealth management business with more than $1 billion in assets.
The firm was founded in 2017 by Channing Smith and John Hastings in partnership with the Biolchini Family, a prominent Oklahoma and Wyoming family that owns the Bank of Jackson Hole and Vast Bank.
The RIA’s team of six will join Lido as partners.
Jackson Hole Capital Partners focuses on alternative investments, allocating to co-investments, hedge funds, private debt and private equity.
“Joining Lido is a natural next step—one allowing us to continue providing the highly customized solutions our clients count on, while expanding our ability to comprehensively meet their most important life goals,” Hastings said in a statement. “Lido’s capabilities in tax and estate planning, combined with its overall family office approach, will resonate with our clients now and as we continue to grow our impact.”
Separately, Lido recently added BNY Pershing as a custodial partner, according to a regulatory filing. The firm also uses Fidelity and Schwab as custodians.
This follows news last week that Lido named Brian Haloossim president and elevated founding partner Ken Stern to co-chief executive officer alongside Jason Ozur.
Last month, Lido added its own broker/dealer to make the option available to existing and future advisors on its platform, according to a regulatory filing and firm executives.