Cresset has once again expanded its advisory team with the addition of two former Lazard Wealth directors who collectively oversaw $1.1 billion in client assets.
The independent wealth management firm announced today that Chris Tiano and Nick Smith have joined as managing directors and wealth advisors. Tiano will be based in Cresset’s Los Angeles office, while Smith joins the firm’s New York office.
The appointments follow a series of advisor additions and leadership moves by Cresset as the firm continues expanding its national footprint and private wealth business. Last Tuesday, it was announced that Dheeraj Soni was named chief technology officer.
The hires continue Cresset’s strategy of recruiting experienced advisors serving ultra-high-net-worth individuals, entrepreneurs, business owners and multigenerational families. The pair previously served as directors at Lazard Wealth, where they advised clients on investment management, estate planning, tax strategy and wealth transfer.
Tiano specializes in working with entrepreneurs and business owners whose wealth is concentrated in privately held companies. His experience includes advising clients through liquidity events and helping coordinate investment portfolios, tax planning and estate strategies. Before joining Lazard Wealth, he held advisory roles at Focus Financial Partners and Glenmede Trust Company.
Smith brings 15 years of experience advising ultra-high-net-worth individuals, families and institutional clients. In addition to investment management, his background includes estate planning and tax strategy. Before Lazard Wealth, Smith worked at Merrill Lynch Wealth Management, Bessemer Trust and Fiduciary Trust Company International.
“Nick and Chris exemplify the high caliber of advisor we seek to attract to Cresset – deeply experienced professionals who put clients at the center of everything they do,” CEO Susie Cranston said in a statement. “Their expertise serving entrepreneurs, business owners and multigenerational families aligns perfectly with our mission to deliver truly comprehensive, integrated wealth management.”
The additions come as wealth management firms continue competing for experienced advisors and their client relationships, particularly in the high- and ultra-high-net-worth market where demand for comprehensive planning and family office services has continued to grow.
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