Chicago-based RIA Cresset on Tuesday announced that it expanded its Houston office by adding a wealth advisory team formerly of Bernstein Private Wealth Management, where it oversaw $1.4 billion in assets under management (AUM).
The advisor team is led by Michael Ellington, Zach Gardner and Danique van der Velden, who have 30 combined years of experience advising business owners, entrepreneurs and ultra-high net worth families, Cresset pointed out.
Their focus has been on pre- and post-transaction planning, including public and private investment management, estate and tax planning, Cresset said.
“Michael, Zach, and Danique have built distinguished careers providing entrepreneurs and ultra-high-net-worth families with a holistic and personalized family office experience,” Susie Cranston, President of Cresset, said in a news release.
Cranston added, “Just as importantly, they share our values and commitment to creating enduring wealth and lasting legacies for our clients.”
“Cresset is the perfect home for us to provide successful families with the comprehensive family office services that they expect today,” according to Ellington.
“Cresset’s vision to build a 100+-year firm resonates deeply with us, as does the alignment between employees, leadership, and clients,” he said. “That is rare in this industry, and it is why we are so excited for what the future holds.”
Cresset announced last month that it added a wealth advisory team led by Jamie Gilbert, Jean Wright and Max Ripans, formerly of Goldman Sachs, where that team oversaw over $1.8 billion in AUM. That team joined Cresset’s Atlanta office and established its presence in Jackson Hole, Wyoming, Cresset said.
As of July 1, Cresset had $70 billion in AUM, according to its website.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
