Chicago-based RIA Cresset on Tuesday announced that it added a wealth advisory team led by Jamie Gilbert, Jean Wright and Max Ripans, formerly of Goldman Sachs, where the team oversaw over $1.8 billion in assets under management (AUM).
The team will join Cresset’s Atlanta office and establish its presence in Jackson Hole, Wyoming, it said.
At Goldman Sachs, the team specialized in advising ultra-high net worth families, entrepreneurs and C-suite executives, with a focus on tax and estate planning, Cresset said.
Cresset had been in talks with the advisor team for “several months” before the announcement, a spokesperson for the firm told WSR by email. “Jamie met Cresset Co-Founder Eric Becker while on vacation,” the spokesperson added.
“I wasn’t looking to change firms when I was first introduced to Cresset,” recalled Gilbert, who is serving as Managing Director and Wealth Advisor at Cresset, according to his LinkedIn profile.
“However, once I got to know Cresset’s vision and team and the deep, unconflicted alignment between advisors, leadership, and client families, I knew there was no place we’d rather be,” he said in a news release. “It is incredibly reassuring to know that the families we serve will receive the sophisticated, holistic family office experience they expect and deserve.”
At Cresset, Wright is serving as Managing Director, Private Wealth Client Services, and Ripans is Associate and Investment Analyst, according to their LinkedIn profiles.
“We couldn’t be more pleased to welcome Jamie, Jean, and Max to Cresset,” said Cresset President Susie Cranston. “They share our steadfast commitment to helping entrepreneurs and ultra-high-net-worth families create enduring wealth and lasting legacies.”
She added, “They have a client-first, fiduciary mindset and work closely with their clients to help provide the comprehensive, highly individualized solutions that successful families desire. They are the perfect fit for Cresset, and we look forward to what we will build together.”
The firm has acquired one firm so far this year, the spokesperson noted, pointing to its purchase of Monticello Associates, a Denver-based independent investment consulting firm, in a deal that was announced in August. That transaction was expected to close late this year giving the combined firm almost $200 billion in client assets, Cresset said at the time.
Cresset had about $72 billion in AUM as of July 1, it said in August.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
