The combination with Pegasus Partners will see that firm's team members join Lido Advisors.

Los Angeles-based Lido Advisors, a wealth advisor, is acquiring Pegasus Partners, an RIA operating in Mequon, Wisconsin. 

The arrangement puts Lido, which has more than $24 billion of regulatory assets under management (as at September 30), with a firm overseeing more than $3 billion, as at the end of last year. Lido operates from 15 offices across the US.

Founded in 2015, Pegasus specializes in wealth management and family office solutions for ultra-high net worth families, with a focus on investment management, financial planning, family wealth transfers, and alternative investments.

Under the partnership, all 22 Pegasus team members will join Lido, with the majority becoming partners. Pegasus is led by Todd Krieg, founder and CEO, and Matt D’Attilio, founder and president. Ken Stern, who is president of Lido, was interviewed by this publication here. Lido’s CEO is Jason Ozur.

Park Sutton Advisors, a Waller Helms Company, served as exclusive financial advisor to Pegasus. The financial terms of the deal were not disclosed.