Coldstream Wealth Management has taken another step in its expansion strategy with another foothold in the Pacific Northwest.
The Bellevue, Washington-headquartered firm announced it has partnered with Seattle-based financial firms Harrison Berkman Claypool & Guard and HBC Financial Services.
The move bolsters Coldstream’s assets under advisement by $500 million, bringing the total to $11.1 billion, and expands its Tax & Consulting practice.
Kevin Fitzwilson, Coldstream’s managing shareholder, highlighted the new partnership as an ideal fit from both a cultural and client service standpoint.
“HBCG and HBC share Coldstream's values and uncompromising approach to service, making this partnership not only a great fit but also an enhancement to those we serve," Fitzwilson said in a statement. "Together, with expanded resources and greater access to investment and tax planning opportunities, our firms will provide clients a more comprehensive offering than ever before.”
Founded in 1977, HBCG is a full-service accounting firm, and its RIA sister firm, HBC Financial Services, was established in 2001. Both organizations offer tax preparation, estate planning, business succession planning, and portfolio management to small businesses and individuals.
James Claypool, who leads both shops, highlighted the benefits of the merger for their clients.
“Our combined resources will empower us to offer a heightened, comprehensive level of service," Claypool, who's been registered with the SEC for over two decades, said Thursday. "Together, we are well-positioned to strengthen the client experience and provide our people with more opportunities for career development.”
The merger continues Coldstream’s growth in the region following its integration last July of Arnerich Massena, a Portland, Oregon-based firm managing $2 billion. In 2023, it added Hersman Serles Almond and Seidman Capital Group. Coldstream now operates in seven locations across four states.
HBCG and HBC professionals will transition into Coldstream’s advisory and tax consulting teams while maintaining their independence and employee-owned structure. The firms will also benefit from Coldstream’s technology systems, designed to enhance client engagement.
“This merger is a significant step forward in our commitment to delivering exceptional service and innovative solutions to our clients,” Claypool added.
The financial advice industry has been facing inquiries into its cash sweep programs for years now.
Investor money allegedly went to strip clubs, exotic cars, and landscaping
Procyon adds $415 million in assets under management in New Jersey while Savant picks up a $213 million Southern California planning firm
With a growing number of real estate-rich Baby Boomers aging into retirement, some advisors may be failing to consider all the options available for those clients' assets.
Cornerstone Advisors study reveals compliance bottlenecks stall campaigns weeks after customer opportunities close.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
