Cresset and Monticello Associates Join Forces for Growth
Monticello Associates is known for its specialized investment advisory services catering to foundations, endowments, and family offices, managing an impressive $124 billion of client assets.
In a significant move within the investment advisory sector, Cresset, a multi-family office founded with the intent of serving client needs, has announced its partnership with Monticello Associates. This collaboration will bring together two esteemed firms, collectively overseeing nearly $200 billion in assets. The close ties between these firms are expected to not only enhance capabilities but also broaden investment access by joining forces with renowned fund managers in both public and private market sectors.
This strategic combination highlights Cresset's commitment to improving its institutional advisory services while supporting its ambition to develop into a firm that thrives for over a century, focusing on independence, innovation, and a client-centric approach.
Founded in 1992 by Grady Durham, Monticello Associates has built a solid reputation providing expert investment recommendations to 175 dedicated client relationships. As a fully employee-owned entity, Monticello Associates effectively oversees approximately $124 billion in assets under advisement (AUA), ensuring a personalized experience for their respected clientele. The firm operates from its Denver headquarters while also maintaining offices in key U.S. cities.
The affiliation will integrate the Monticello Associates team, showcasing a group of 58 skilled professionals into the Cresset fold. This merger is designed to connect Cresset's leading multi-family office services with the sophisticated consulting expertise offered by Monticello Associates.
Avy Stein, Founder and Co-Chairman of Cresset, expressed enthusiasm over the partnership, highlighting the mutual respect and shared values that have long characterized the relationship between the two firms. He remarked, "Together, we are not just expanding access to premier investment opportunities but are also committed to solidifying our goals of creating a firm that serves families and institutions with intention and care. Our vision for the future is brighter as we combine efforts."
Eric Becker, Co-Chairman of Cresset, echoed Stein's sentiments by affirming the integrity of their bespoke approach to client service, which will remain unchanged despite the larger scale of operations that this partnership fosters. "We are looking forward to the combined strength that this union brings, which will enhance our clients' experience and provide more significant opportunities," he noted.
Grady Durham, the visionary behind Monticello Associates, emphasized that this strategic partnership is more than a business move; it is a legacy of ensuring continuity for their clients while broadening capabilities that meet evolving financial needs. He proudly recognized the robust research resources and global access the partnership will yield, recounting that the newly integrated firm would reflect both teams' cultural commitment to independence and sustained excellence.
About Cresset
Cresset is an independent, client-focused firm reimagining wealth management. By blending their expertise in investment advisory with an entrepreneurial spirit, they prioritize delivering exceptional results for their clients. Guided by long-term relationships and a commitment to excellence, Cresset provides clients an experience akin to what is typically reserved for the largest single-family offices.
With a strong foothold in the marketplace, Cresset has been recognized by notable publications as one of the country's top multi-family offices, showcasing their dedication to offering personalized, quality service.
About Monticello Associates
Monticello Associates stands out in the investment consulting landscape for delivering specialized advisory services aimed at empowering households and institutions. Founded with a commitment to client success, Monticello serves a notable clientele and has cultivated a robust team culture that prioritizes independence and excellence in financial advisory.
Frequently Asked Questions
What does Cresset's partnership with Monticello Associates involve?
The partnership aims to merge the strengths of both firms, expanding their institutional advisory capabilities and increasing access to premier investment opportunities.
How will this affect the clients of both firms?
Clients will benefit from a broader range of investment options and enhanced advisory services as a result of this strategic combination.
What is the historical background of Cresset and Monticello Associates?
Cresset was founded as a multi-family office focused on serving clients, whereas Monticello Associates has been providing specialized investment advice since its establishment in 1992.
What specific assets do Cresset and Monticello Associates manage?
Together, they manage nearly $200 billion in assets, with Monticello overseeing approximately $124 billion in non-discretionary assets.
What core values do Cresset and Monticello Associates share?
Both firms are driven by innovation, integrity, and a commitment to serve families and institutions through exceptional advisory services.
