Two West Coast registered investment advisers, Laird Norton Wealth Management and Wetherby Asset Management, said Monday that they had merged, creating a new firm with $15 billion in client assets.
The RIA industry has seen almost a decade of record-setting mergers and acquisitions, and 2022 dealmaking is starting to sizzle.
Laird Norton is based in Seattle and Wetherby is based in San Francisco. Terms of the deal were not released in the statement from the companies, but the combination was characterized as a "strategic investment" by Laird Norton.
This isn't Laird's first merger. In late 2020, the firm said it was merging with another Seattle RIA, Filament.
Kristen P. Bauer, Laird Norton's CEO, will serve as CEO of the combined firms, the companies said. Debra Wetherby will remain managing partner of Wetherby Asset Management and serve on an expanded board of directors at the new company.
The company, which is owned by a combination of family and employees, will retain both the Laird Norton Wealth Management and Wetherby Asset Management names and will continue to serve high- and ultra-high-net worth families, the companies said. Wetherby clients will have the option of having trusts administered through Laird Norton.
Wetherby was founded in 1990 and Laird Norton in 1967.
The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
