Robertson Stephens breaks another billion-dollar barrier with RIA partnership

Robertson Stephens breaks another billion-dollar barrier with RIA partnership
The national RIA has officially exceeded $6B in advisory assets while gaining its first foothold in Oregon.
JUL 10, 2024

Robertson Stephens has expanded into the Pacific Northwest as a partnership with a $360 million RIA unlocks its first foothold in Oregon.

Robertson Stephens Wealth Management announced that it is partnering with Rain Capital, bringing its total advisory assets to more than $6 billion across 21 locations nationwide.

Under the partnership, David Reichle and Ellen Kim, co-founders of Rain Capital, will join Robertson Stephens as managing directors and principals, along with their team members Chris Abbruzzese, Jamie Iversen, Luz Garcia, and Wendy Maroun.

Raj Bhattacharyya, CEO of Robertson Stephens, expressed enthusiasm about the new partnership.

"Rain Capital is a highly respected RIA, and its reputation is driven by its high integrity, deep bench of talent, and commitment to providing excellent client service,” Bhattacharyya said in a statement. “They are the ideal partner for us, making each of us better and stronger.”

Reichle highlighted the thorough selection process that led to the partnership, which took the firm on an 18-month search for “enhanced market access and deeper wealth planning.” Ultimately, they chose Roberston Stephens for its “comprehensive capabilities, collaborative culture, and values.”

"David and I believe that this partnership with Robertson Stephens will enable us to refocus on what's important: our clients,” said Kim, who previously served as COO at Rain Capital.

“From operations, compliance, and human resource needs to advanced technology and growing our presence in the Portland area, all of this additional support will allow us to further improve our service levels and offer more to our clients," she added.

Reichle and Kim bring extensive experience to Robertson Stephens, with Reichle having more than 25 years in portfolio management and advisory, including a co-founder, president and CIO role at Pacific Investment Advisors, one of the early Portland-based RIAs.

Kim has over 20 years in the financial industry, covering various roles from advisory to performance measurement as she worked with high-net-worth and ultra-high-net-worth families.

The latest partnership in Oregon extends Robertson Stephen’s growth momentum this year, which includes its addition of a Colorado-based RIA in May and a Connecticut-based practice formerly affiliated with Hightower in March, which vaulted the firm past the $5 billion milestone.

Latest News

SEC Says Game Service Roblox Part of ‘Active Investigation’
SEC Says Game Service Roblox Part of ‘Active Investigation’

Short sellers previously said the company was under investigation, though Roblox denied allegations.

Musk’s DOGE descends on CFPB with intention to shut it down
Musk’s DOGE descends on CFPB with intention to shut it down

The Consumer Financial Protection Bureau is in the crosshairs of the Republican group that is widely attempting to dismantle government agencies.

Advisor fighting Finra banishment loses $17.7 million dispute with old firm
Advisor fighting Finra banishment loses $17.7 million dispute with old firm

National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.

Job numbers, inflation leaving room for Fed to hold rates
Job numbers, inflation leaving room for Fed to hold rates

Recent data support a measured pace by the Federal Reserve for the year ahead.

Private assets remain hot despite surging stock market
Private assets remain hot despite surging stock market

Financial advisors are still adding alternatives despite the surge in publicly traded stock prices

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.