Coldstream Wealth Management, Perigon Wealth Management, and Parallel Advisors have made moves in the West Coast, with each RIA announcing developments that bolster their client service capabilities and talent infrastructure.
Coldstream Wealth Management, a Seattle-based RIA with more than $10 billion in client assets, has joined forces with Cable Hill Partners, a Portland, Oregon-based firm overseeing approximately $2 billion. The Cable Hill combination is Coldstream’s third major expansion in Portland and follows its January mergers with Harrison Berkman Claypool & Guard and HBC Financial Services, and its 2023 deal for Seidman Capital Group.
The 29-member Cable Hill team, including 13 advisors and 16 support staff, will become Coldstream shareholders under the agreement. The firm offers investment advisory services to high-net-worth individuals and institutions, with additional focus on retirement plan support.
“Cable Hill’s approach is completely complementary to our comprehensive offerings,” Kevin Fitzwilson, Coldstream’s managing shareholder, said in a statement announcing the move. He added the deal supports Coldstream’s strategy to offer a broad suite of financial services as an employee-owned firm.
Combined, Coldstream now supports $13 billion in client assets, with a deep bench of credentialed professionals across financial planning, investment analysis, and tax and legal specialties.
In Southern California, Perigon Wealth Management has recruited Jeremy Kovacs as a managing director and wealth advisor.
Kovacs, a veteran of Merrill Lynch, BNY Mellon, and Wells Fargo, brings over $300 million in client assets and a focus on business transition planning for high-net-worth clients.
“Jeremy’s history of success within the middle market business community enhances our ability to serve this critical segment of the American economy,” said Arthur Ambarik, Perigon’s CEO.
The firm, which reported $8.7 billion in assets as of year-end 2024, continues to expand its national presence – previously, it added $375 million in assets in a March double deal – with support from a capital partnership with Constellation Wealth Capital.
Meanwhile, San Francisco-based Parallel Advisors has strengthened its leadership bench with the appointment of two senior executives.
Tony Parkin, formerly of Schwab Advisor Services, joins as head of advisors, tasked with driving growth and enhancing client service delivery. Gary Bonner, formerly COO and CTO of Avalon Advisors, takes on the role of head of business analytics and technology.
“These appointments represent a significant milestone in our evolution as full-service advisors to our clients,” said C.J. Rendic, CEO of Parallel Advisors.
Parkin brings 22 years of experience working with RIAs on strategy and business development, while Bonner will lead efforts to optimize the firm’s technology platforms. Parallel manages more than $9 billion in assets and offers integrated investment, tax, and estate planning services.
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