Evoke Advisors Acquires Crescent Bay Advisors to Create Comprehensive RIA and In-House Family Office Firm

LOS ANGELES, Oct. 30, 2024 ~ Los Angeles-based registered investment advisory firm, Evoke Advisors, has announced the strategic acquisition of Crescent Bay Advisors (CBA), a multi-family office. With this acquisition, Evoke's total assets under management will increase to $25.3 billion† and the firm will now be able to offer a full range of family office services to their clients, including ultra-high net worth families and individuals.

According to Evoke's Co-Founder and Managing Partner, David Hou, this acquisition aligns with the firm's mission of creating a client-focused organization. He believes that CBA's Family Office Services team will enhance their current service offerings and provide a customized and fully integrated client experience. Hou also expressed confidence in the expertise and quality of service that CBA's partners will bring to the table.

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CBA's Founder and President, Larry Abrahams, shared his excitement about formalizing their partnership with Evoke. He mentioned that they have been working closely with Evoke since their founding and this opportunity allows them to combine their comprehensive Family Office Services with Evoke's investment management, financial planning, and tax services. Abrahams also highlighted the firms' shared values of acting as a true fiduciary partner and putting clients' needs first.

As part of the acquisition, Larry Abrahams will join Evoke as a Managing Partner alongside existing Managing Partners: David Hou, Mark Sear, Eric Bright, Darell Krasnoff, Andrew Palmer, Alex Shahidi, and Damien Bisserier. The terms of the transaction remain confidential.

The combined firm will be headquartered in Los Angeles with additional office locations in Orange County, California and West Palm Beach, Florida. This strategic move solidifies Evoke's position as a leading provider of financial services for high net worth individuals and families.

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