$7.7B Miracle Mile Rebrands as Composition Wealth$7.7B Miracle Mile Rebrands as Composition Wealth
The new name reflects its structure as a collection of wealth advisors as well as the RIA’s growth beyond its Los Angeles roots.
Miracle Mile Advisors, a Los Angeles-headquartered registered investment advisor with $7.7 billion in client assets, has rebranded as Composition Wealth, a name the firm says better reflects its structure as a collection of wealth advisors and specialists across the country.
The new name also reflects the RIA’s growth beyond its Los Angeles roots; Miracle Mile is a neighborhood in Los Angeles that contains a stretch of Wilshire Boulevard between Fairfax and La Brea Avenues. But the firm hopes to establish itself as a national wealth manager, with offices in San Francisco, San Diego, Seattle, New York, Baltimore/Washington, D.C., Chicago and Portland, Ore., in addition to Los Angeles.
The firm now has nearly 100 employees, including 36 advisors and wealth strategists and 32 client service professionals. The RIA has completed nine acquisitions, including four in 2024.
“We feel like the name Composition Wealth better represents who we are today, which is a collective of advisors across the country working together to help our clients write their success stories,” said CEO Bruce Milam. “Nothing’s changed with respect with how we go to market; we’re still a financial planning-first firm, plus investments. But now we’ve added experts in estate, tax, insurance; we have a dedicated in-house 10-person investments team. We really are a composition of these experts that work together to deliver services for our clients.”
The rebrand also includes a new logo, which is intended to be a bookend, representing the financial stories the firm helps clients create. The bright green colors stand for financial health, growth and stability. Composition’s new tagline is “your story is our story.”
“Composition is a collection, but it’s also a narrative,” Milam said. “We really do think of a client’s journey as a story. We’re better advisors by understanding and investing in that story. We very much want to understand a client’s goals and objectives through financial plan. We want to understand the twists and turns that that story takes over the course of their lives as they have children, as they contemplate retirement, as they have other opportunities and challenges.”
Founded by Managing Partner Brock Moseley in 2007, Miracle Mile received a minority investment from Merchant Investment Management in late 2020 that supported the firm’s first four acquisitions. Two years later, private equity firm Corsair Capital acquired Merchant’s stake. At the same time, the firm announced it was buying Karp Capital Management, a firm managing $1.2 billion. This was the largest acquisition in the firm’s history.
In June 2023, the RIA appointed Milam as the first CEO in its 15-year history. He previously spent nine years as chief operating officer for Freestone Capital Management when the firm tripled assets.
Last April, the firm named Matt Dmytryszyn, former CIO at Telemus Capital, as chief investment officer.
Composition Wealth added some $2.1 billion in new assets in 2024. That includes the addition of two firms early last year with a combined $600 million. The firm also recently integrated a California-based practice with about $731 million in assets, and Offit Advisors, a Columbia, Md.-based wealth management firm with about $194 million in client assets.
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