Liz Nesvold joins Cresset as president

Liz Nesvold joins Cresset as president
Nesvold is exiting Raymond James to take on an expansive new role at Cresset's $30 billion platform.
MAY 02, 2023

Cresset, the family office and private investment firm that has grown to $30 billion in just six years, has brought on its first company president to help execute the firm’s “100-year vision.”

Liz Nesvold, a 30-year veteran of financial services who most recently was a managing director at Raymond James, has joined Cresset as president, a role with far-reaching responsibilities.

Nesvold's arrival “represents the fact that Cresset is growing in so many ways,” said co-founder Avy Stein, citing the firm’s wealth business, multifamily-office business and private investments business.

“With our growth and development we needed some additional talent and Liz is that talent,” Stein said. “She is a wonderful cultural fit for Cresset, a very strong leader, she has great strategic and operational capabilities.”

Part of Nesvold’s role will be to head strategy, which means finance will be reporting to her, Stein said.

“She will be involved first and foremost in helping us to provide the great boutique service we provide to our clients,” he said. “She has definitely been given a great deal of responsibility.”

Nesvold, 55, is an accomplished executive with a solid reputation across the financial services industry. In 2019 she was recognized by InvestmentNews as a Woman to Watch.

The investment bank that she founded along with her husband Peter Nesvold, Silver Lane Advisors, was acquired by Raymond James in 2019. She remained with Raymond James as managing director and head of asset and wealth management investment banking until leaving to join Cresset.

“I am so excited because this job really gives me a chance to bring a lot of skill sets together that most people don’t know I have,” Nesvold said. “A big part of the work I’ve done in the areas of continuity and succession planning is important to bring additional talent up to the executive ranks. It’s incumbent on all of us as leaders to bring the next generation up. I’m so excited about this opportunity and I’m so blessed by a beautiful career. Young women entering finance and wealth management need to see more role models.”

Cresset co-founder Eric Becker described Nesvold as “an entrepreneur at heart.”

“Liz is a fearless leader who personifies integrity and transparency on behalf of clients, colleagues, and our industry,” Becker said. “She embodies Cresset’s core values of client first, innovation, and entrepreneurial spirit, and will help drive Cresset’s commitment to attract, retain and develop talented, diverse leaders.”

RIA dealmaking and valuations holding up despite volatile stock market

Latest News

Advisor moves: LPL, Raymond James, Brighton Jones raid the talent pool
Advisor moves: LPL, Raymond James, Brighton Jones raid the talent pool

Firms continue their quest to attract and retain the best advisor teams.

Most advisors say AI portfolio construction is worth $500 a month
Most advisors say AI portfolio construction is worth $500 a month

A survey from TacticalMind AI found 69% of advisors say a high-quality AI platform that makes investment recommendations and constructs portfolios is worth $500 monthly, while research-only tools are valued closer to $250.

CAIS embeds Claude AI into advisor workflows for alternatives intelligence
CAIS embeds Claude AI into advisor workflows for alternatives intelligence

The alts tech provider's latest integration lets advisors query fund data and surface portfolio insights without leaving their primary workspace.

FINRA puts structured product supervision under the microscope
FINRA puts structured product supervision under the microscope

The regulator is scrutinizing how some firms oversee concentrated positions in complex "worst-of" notes – and wants answers.

RIA moves: Beacon Pointe tops $4B in New England with latest female-founded partner firm
RIA moves: Beacon Pointe tops $4B in New England with latest female-founded partner firm

Meanwhile, Carson Group fully integrates a decades-old practice in Phoenix, Arizona, and Triad Wealth touts its 5x growth to hit a $2 billion milestone.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline