Cresset to Merge with Berman Capital Advisors, Creating $20 Billion Multi-Family Office

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Sep 28, 2021, 08:45 ET

CHICAGO, Sept. 28, 2021 /PRNewswire/ -- Cresset Asset Management, LLC ("Cresset") and Berman Capital Advisors ("Berman") announced today that they plan to merge, creating a $20 billion multi-family office serving clients from offices in 11 markets around the country. This partnership will significantly add to Cresset's existing team in the Atlanta region. The merger is expected to be complete on September 30, 2021.

Berman is an independent multi-family office founded in 2010 that currently manages $4.7 billion in assets for clients. With offices in Atlanta and Austin, Berman combines the personalized service, creativity, and objective advice of a boutique firm with the extensive knowledge and resources of a large firm to provide holistic wealth management and family office services. All 33 of Berman's team members are joining Cresset and will continue providing the same highly customized services clients have come to expect.

"Cresset is the partner we've been seeking to take our business to the next level, offer our clients an even broader array of services, and provide career development opportunities and increased ownership for our team. We are excited to share with existing and new clients alike the truly holistic suite of innovative wealth management, family office, and private investment offerings we can provide together," said Justin Berman, Founder and CEO of Berman Capital Advisors.

Cresset is an award-winning, boutique multi-family office that launched in 2017 with a vision to deliver a new paradigm for wealth management. Co-Founders Eric Becker and Avy Stein set out to create the kind of firm they felt was missing in the wealth management industry. Today, Cresset is a Barron's and Forbes Top Ranked Advisor^¹and offers individuals and families access to a comprehensive suite of family office services, deeply personalized wealth management, institutional-quality private investing opportunities, True Fiduciary^® alignment, and an ecosystem and community of peer-to-peer learning.

"Cresset and Berman are a strong cultural fit and share a commitment to excellence, integrity, independence, and results. Together, we will offer even greater access to our boutique family office services," Stein said. "Both the Cresset and Berman teams are extremely entrepreneurial in our approach to client service and investment strategy. I am very excited for what's to come as partners."

While Cresset has partnered with a select group of culturally aligned firms like Berman, nearly two thirds of Cresset's overall growth has been organic.

"I am thrilled to welcome the Berman team to Cresset. Having gone through a similar journey when my firm, PagnatoKarp, partnered with Cresset in 2020, I can confidently say that Cresset's culture, vision, and platform are exactly what family office clients today need and deserve," said David Karp, Founding Partner of PagnatoKarp and Senior Managing Director of Cresset.

About Cresset
Cresset is an independent, award-winning multi-family office and private investment firm with $20 billion in assets under management (as of 9/30/2021). Cresset serves the unique needs of entrepreneurs, CEO founders, wealth creators, executives, and partners, as well as high-net-worth and multi-generational families. Our goal is to deliver a new paradigm for wealth management, giving you time to pursue what matters to you most.

Cresset offers access to a comprehensive suite of family office services, deeply personalized wealth management, investment advisory, planning, and other services through Cresset Asset Management, LLC. Cresset Partners, LLC, Cresset's private investing group, offers clients direct access to institutional-quality real estate, private equity, private credit, and other investment opportunities. Cresset Asset Management, LLC, and Cresset Partners, LLC, are SEC registered investment advisors. Visit https://cressetcapital.com.

About Berman Capital Advisors
Berman Capital Advisors was founded as an independent registered investment advisor, embracing a multi-family-office mindset and model in late 2010. Headquartered in Atlanta, with an office in Austin, the 33 members of the Berman team manage roughly $4.7 billion in assets (as of August 2021). Berman has developed a robust investment platform offering both traditional and alternative investment options not often available at many wealth management firms. Visit https://www.bermancapital.com.

^¹ https://cressetcapital.com/disclosures/

Media Contact:
Michael Walsh
612-718-8952
[email protected]

SOURCE Cresset