Matt Sonnen has joined Coldstream Wealth Management, a Seattle-based wealth management firm, as its chief operating officer and has been charged with improving its back-office operations for the registered investment advisors who have joined in recent years, as well as enhancing the firm’s processes for onboarding firms that join in the future.
"In the years ahead, we look forward to Matt further streamlining our operations, which will not only benefit our current advisors but allow us to more seamlessly incorporate future merger partners as we continue to ramp up our long-term growth strategy," Kevin Fitzwilson, the firm's managing shareholder, said in a statement.
Coldstream’s operations, IT, performing reporting, client service and CRM teams will report to Sonnen.
Previously, Sonnen founded and served as CEO of PFI Advisors, a consulting firm that helped financial advisors build more profitable enterprises.
Matt Sonnen said in an email that while he’s no longer providing one-on-one consulting through PFI Advisors, he will still offer many-to-one coaching through the COO Society and will continue to put out the "COO Roundtable" podcast under Coldstream’s sponsorship.
“I’m excited to roll up my sleeves and get to work on the operations of Coldstream!” Sonnen said.
Prior to founding PFI Advisors in 2015, Sonnen worked with breakaway advisors making the move to independence as vice president of strategic operations at Focus Financial Partners.
Coldstream has almost $6.5 billion in assets under management according to its latest Form ADV, with offices in Bellevue, Seattle and Mercer Island, Washington; Boise, Idaho; Kenai, Alaska, and Portland, Oregon.
Federal prosecutors say the scheme used fake investment accounts and a fictitious financial advisor to lure victims into romance-fueled fraud.
Morgan Stanley sought to claw back recruiting bonus money from Darryl Cohen.
Referrals from centers of influence may open the door, but the real key to success for advisors comes from clarity about their ideal clients and where they want to show up.
Three advisor groups overseeing more than $700M in combined client assets head to new firms.
New research finds most Americans fear a US retirement crisis, while skepticism grows toward AI financial advice and crypto in retirement plans.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
