Cresset Asset Management has acquired Cypress Wealth Advisors, a RIA headquartered in California.

The companies did not reveal the transaction value.

The deal adds over $500m in assets to the acquirer’s books, taking its total assets to more than $4.5bn.

Cresset co-founder Avy Stein said: “Our mutual dedication to client alignment and a commitment to providing access to a full suite of sophisticated family office services and private investment opportunities make this an ideal partnership.”

Set up in 2004, Cypress offers investment management, tax and estate planning strategies.

All Cypress employees will be retained as part of the deal. They will continue catering to their current customers while serving new ones.

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.

Company Profile – free sample

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 GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Cypress founder, CEO and CIO Barbara Young said: “At Cypress, we are committed to helping grow and protect our clients’ wealth so they can live life on their own terms.

“We take that trust very seriously, which is why we are so pleased and confident to partner with a firm with the scale and capabilities of Cresset.”

Cresset offers family office services, wealth management, and investment advisory services.

Its offices are located in Chicago, West Palm Beach, San Francisco, Seattle, Denver and Minneapolis.

This March, the firm added over $500m in assets to its portfolio through the acquisition of Evanston Advisors.