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December 9, 2021

Robertson Stephens Wealth Management opens new office in California

By Verdict Staff

US-based Robertson Stephens Wealth Management has expanded its national footprint with the addition of a new office in Pasadena, California.

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GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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Concurrent with the development, the firm has hired Karen McClintock as managing director and principal to lead its Pasadena location.

McClintock, who specialises in investment management, philanthropic and wealth planning services, adds over $160m in advisory assets to Robertson Stephens.

Dinah Wellington, who has been working with McClintock, will also join the Pasadena office.

Robertson Stephens CEO Raj Bhattacharyya said: “We are extremely excited to have Karen and Dinah on board.

“Karen’s three decades of wealth management experience and her deep commitment to her clients make her an ideal fit for Robertson Stephens and the opening of our office in Southern California, a very important growth market for our firm.

“This addition, along with our recent announcements in Boise and Santa Rosa, has increased our assets under management by over $1bn in the past month and a half.”

As of November 2021, Robertson Stephens manages over $3.6bn in assets.  The firm currently employs 62 staff across its twelve offices, including in San Francisco, New York, Denver, Seattle, and Pasadena.

In April last year, it set up its first Southwestern office in Austin, Texas and appointed Pam Friedman as managing director and principal.

In February 2020, Robertson Stephens acquired Vine Street Wealth Management to expand its presence in California.  The deal added around $150m in assets to its books.

Commenting on the latest development, McClintock said: “I am thrilled to be part of the Robertson Stephens family and establish the firm’s presence in Southern California.

“By joining, I am able to better serve my clients by offering comprehensive wealth planning, rigorous investment management and innovative technology that will better position them in accomplishing their wealth needs and goals.”

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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