Seattle-based RIA Coldstream announced that it experienced an increase of over 30% in client assets, from $10.8 billion in assets under advisement (AUA) at the end of 2024 to $14.05 billion as of Sept. 30, while it added a net of 27 employees to reach 227 total full-time employees.
It appointed multiple executives this year, including naming Kevin Fitzwilson, a long-time Managing Shareholder, as CEO in July.
“We set out to create a firm that values our employees and empowers them to deliver exceptional service to their clients,” said Fitzwilson. “These firm-wide achievements highlight our success on an individual level, fulfilling our promise to foster a culture that supports sustainable and meaningful growth for all of our stakeholders.”
In June, the firm merged with Portland, Oregon-based Cable Hill Partners, which had approximately $2 billion in client assets at the time. In January, accounting firm Harrison Berkman Claypool & Guard and its affiliated RIA HBC Financial Services joined Coldstream, with approximately $500 million in combined assets under advisement.
The firm continues to operate without external capital partners, with all ownership in the hands of employees.
Josh Harris, the firm’s President, M&A, said, “By identifying like-minded, independent advisory firms that prioritize their employees’ and clients’ needs, we have been able to surpass the growth rate of most other RIAs of our size. The focus on culture and values has driven our expansion and will continue to be a key part of our strategy moving forward.”
Michael Madden, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at mmadden@wealthsolutionsreport.com.
