Coldstream Wealth Management and Paracle Advisors have announced their merger underneath the Coldstream brand.
Both in the Greater Seattle area, Coldstream will bring $4.3bn in client assets and Paracle will add $1.4bn in client assets.
Go deeper with GlobalData
The combined firm will bring wealth management and financial planning for HNWIs across the US.
In addition, the new Coldstream will hold 103 professionals and utilise more scale and resources to invest in more growth. The firm will also continue Coldstream and Paracle’s 100% employee ownership model.
Anne Marie Stonich, Paracle co-founder and managing director will become chief wealth strategist and marketing lead. Josh Harris, Paracle co-founder and managing director will serve as managing director of corporate development and a Coldstream board member.
“We’re thrilled to partner with Paracle Advisors and to bring our two firms together in what we view as a true merger of equals. Successfully combining two leading RIA firms, without inviting private equity or outside equity capital, supports our joint leadership team’s commitment to independence, in spirit, strategy and service to our clients,” said Kevin Fitzwilson, Coldstream’s managing shareholder.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFitzwilson continued: “In coming together, not only have we combined organizations that have highly complementary skills and capabilities, but we are also demonstrating that there is an alternative to joining the private equity consolidation bandwagon. Private equity firms often pressure wealth management firm leaders to focus on the bottom line rather than placing clients at the front and centre.
“As a result, RIA owners are increasingly hungry for opportunities to combine with like-minded firms in deals that are about strategy, culture and values, versus financial engineering.”
Stonich added: “We’re excited to commence our next stage of growth and service for our clients by merging Paracle with Coldstream. This transaction is the culmination of years of hard work and careful planning, under a constant commitment to delivering an exceptional client service experience. After conducting a national search, it was wonderful to find a merger partner in Coldstream, a wealth management firm just miles away from us in the Seattle area, with an incredibly compatible culture and capabilities that round out what Paracle brings to the table. Together, our teams will drive more long-term value for clients, introduce additional offerings and create a new standard of service.”
