Cresset Asset Management has acquired Cypress Wealth Advisors, a San Francisco-based RIA with more than $500 million in assets under management. With the acquisition, Cresset, which also is based in San Francisco, now manages $4.5 billion in assets.
Cypress was founded in 2004. Its entire staff is joining Cresset, which was founded in 2017. In addition to San Francisco, the firm has offices in Chicago, Seattle, Denver, Minneapolis and West Palm Beach, Fla.