Partnership with Portland, Ore.-based Investment Advisory Firm
Continues Coldstream's Ongoing Pacific Northwest
Expansion
The Coming Together of Culturally Aligned
Firms to Result in New Efficiencies and Greater Scale, Creating an
Enhanced Client Service Experience
SEATTLE, July 9, 2024
/PRNewswire/ -- Coldstream Capital Management, Inc. ("Coldstream")
today announced it has combined with Arnerich Massena, Inc.
("Arnerich Massena"), a Portland,
Oregon-based investment advisory firm managing approximately
$2 billion in client assets.
Founded over 30 years ago, Arnerich Massena is led by co-CEOs
Reegan Rae, CPWA®, and Bryan Shipley, CFA®, CAIA®. Like Coldstream, the
firm is independently operated and employee-owned. At the close of
this partnership, Coldstream will have over $10 billion in assets under management.
"We are delighted to merge with Reegan, Bryan, and the rest of
the Arnerich Massena team," said Kevin
Fitzwilson, Coldstream's Managing Shareholder. "Joining
forces with them is consistent with our longtime mergers and
acquisitions strategy, which is laser-focused on aligning ourselves
with partners who not only share our values and approach to service
but are committed to remaining independent and employee-owned. I'm
looking forward to what we can accomplish together."
Arnerich Massena has seven advisors and employs a staff of 19.
The firm will be incorporated into Coldstream as Team Rae, and all
employees will become shareholders of Coldstream as part of the
partnership arrangement. The team works with high-net-worth
families and individuals and endowments and foundations, providing
portfolio management and investment advisory services. In addition,
Team Rae offers a range of family office-related services,
including legacy planning, business exit planning, family
governance, and generational wealth planning.
"Arnerich Massena has a proud history and a unique set of
values, so the decision to combine with another firm didn't come
lightly, nor was it something that happened overnight," said Rae,
who is also a Managing Principal and Senior Investment Advisor with
the firm. "Yet, after getting to know Kevin and the other members
of Coldstream's leadership team, it became clear that our two firms
share a common operating structure, business vision and,
importantly, a focus on culture rooted in service, intellectual
curiosity, and integrity."
This announcement comes after Coldstream last month expanded its
strategic client service offerings with the launch of Coldstream
Risk Management, formerly known as FIT Insurance, a subsidiary of
the firm. It also follows the successful merger last fall with two
other Pacific Northwest financial services providers: Seidman
Capital Group ("SCG"), a wealth management firm, and Hersman Serles
Almond, LLC ("HSA"), an accounting and consulting services
firm.
Shipley, who also serves as Chief Investment Officer, Managing
Principal, and Senior Investment Advisor with Arnerich Massena,
concluded, "Merging with Coldstream is a continuation of our core
philosophy of only doing that which benefits our clients. I am
confident this move will enhance our ability to deliver a
world-class, boutique-like service experience while still creating
new efficiencies, more scale, and expanded investment opportunities
for both firms' clients." Arnerich Massena was represented by DeVoe
& Company, a leading consulting firm and investment bank to
RIAs.
About Coldstream Wealth Management
Coldstream Wealth Management is an employee-owned, independently
operated wealth management and investment advisory firm that has
been earning the trust of high-net-worth clients since 1996. The
firm guides clients through the complexity of wealth management so
that they can have peace of mind while achieving their financial
and lifestyle goals. Coldstream has offices in seven locations
across four states. The firm is a wholly owned subsidiary of
Coldstream Holdings, Inc. For more information, please visit
https://www.coldstream.com/.
Media Contact:
Donald
Cutler / Michael Dugan
Haven Tower Group LLC
424 317 4864 or 424 317 4852
jkuo@haventower.com or mdugan@haventower.com
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SOURCE Coldstream Wealth Management