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DSB Rock Island Wealth Management, LLC Merger

November 20, 2023DSB Rock Island Wealth Management, LLC and Waterfront Financial Group, LLC today announced a merger, effective immediately. The firm will operate as DSB Rock Island Wealth Management, LLC.  

“Clients will have a deeper bench of advisors, more locations, enhanced services and technologies for the future,” said Mitch Stolba, Founder and Partner of DSB Rock Island Wealth Management. “The synergies between the two firms, such as how we advise clients and our team culture, should make this a smooth transition.”  

Following the merger, the firm will have AUM of $825M and net revenue of $5M. Clients will experience little to no change from the transaction, as the two firms already use the same broker-dealer and software tools, Stolba added. The merger also adds a third office in Edina to the existing offices in Plymouth and Mendota Heights.  

Mark C. Hegstrom, Managing Partner of Waterfront Financial Group, noted the long relationship between the two firms and the trust that was built prior to the merger. “This is a strategic decision to serve clients well into the future while maintaining our client-centric culture,” he said. Hegstrom will continue to advise clients as a partner at DSB Rock Island Wealth Management. Managing Partner Fred Borstad and Partner Ryan Williams will also continue to advise clients, and staff will join the DSB Rock Island Wealth Management team.  

“Our business helps our clients plan and manage the unexpected, and this move is like eating our own cooking,” Borstad said. “It provides us with the infrastructure and access to intellectual capital to accommodate industry trends, to be even better at what we do for clients.”

Post by MPMA
December 4, 2023

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