Cresset reshaped its C-suite Tuesday with the announcement of a new chief executive officer, while &Partners and Summitry each announced mergers extending their respective footprints on the East and West Coasts.
Cresset has announced Susie Cranston, the firm’s president since April 2024, will become chief executive officer effective April 15. Co-founders Avy Stein and Eric Becker will continue as executive co-chairmen, with Cresset saying they will remain involved in areas including culture, client relationships, the investment platform, growth initiatives, mergers and acquisitions, recruiting and governance.
The change aligns the firm’s titles with how the business has been operating day to day, according to the announcement, with Cranston already running operations in partnership with the founders and the executive leadership team. Cresset also said Cranston will join its board of directors as part of the transition.
Her appointment as CEO comes shortly after Cresset revealed its promotion of MeMe McNairy-Glenn to managing director, national strategic growth.
Stein framed the move as a leadership handoff designed for longevity, citing the firm's founding goal of building a business “designed to serve families with care, alignment, and integrity for generations.” He added that naming Cranston CEO “positions Cresset well for the future.”
Becker said Cranston has been “supporting our Advisors” and reinforcing a “client-first approach,” adding that the firm is “confident in the path forward with her as CEO.”
Cranston previously held leadership roles at First Republic Bank and JPMorgan Chase and worked at McKinsey & Company, the firm said. In the statement, she called Cresset “a remarkable firm” and said she is “deeply grateful for the trust placed in me.”
&Partners said Norwich Wealth Management has joined its network with $590 million in prehire assets, marking the seventh practice to join the platform this year.
Based in Norwich, New York, the practice traces its roots in the local community back to the 1930s and serves clients across upstate New York and nationwide, according to the announcement.
Extending &Partners' strategy of luring former Wells Fargo advisors, the latest joiners from FiNet are led by Peter DeRensis, partner and senior managing director, along with partners and managing directors Gregory LaMonica and Marci Riddell. They are supported by team members Dominic Shea, Sonja Boehner, and Hunter Dodge.
The latest addition comes as aggregators and networks continue to compete for teams that want brand support and shared infrastructure without necessarily giving up their local identity.
&Partners positioned Norwich as part of a steady clip of practice additions, citing other recent teams that joined this year, including Bay Ridge Private Wealth, Sumter, Entrust Wealth Management, and Four Lights Advisors.
Counting the Norwich addition, &Partners said it has grown to 112 advisor practices and about $52 billion in prehire assets.
Summitry said it has acquired Vantage Wealth, a Pasadena, California-based RIA with $721 million in assets under management as of Feb. 8.
Summitry reported $3.36 billion in AUM as of Jan. 31. It was acquired in November 2024 by Aspen Standard Wealth, which has gone on to snap up six other RIAs, most recently picking up BlueSky Wealth Advisors in North Carolina.
Founded in 2003, Summitry said it provides financial planning and investment strategies, with services that include retirement planning, estate and trust services and equity compensation advice. Vantage Wealth serves business owners, executives and families, according to the announcement.
Colin Higgins, Summitry’s CEO, said the two firms are “very much aligned” in how they operate and added that the combined organization plans to build on Vantage’s presence in the Southern California market.
James Van de Voorde, Vantage’s co-founder and president, said the deal supports Vantage’s long-term client commitment and will help the firm expand “the suite of services and solutions we provide our clients.”
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