Partnership with Portland, Ore.-based Investment Advisory Firm Continues Coldstream’s Ongoing Pacific Northwest Expansion
The Coming Together of Culturally Aligned Firms to Result in New Efficiencies and Greater Scale, Creating an Enhanced Client Service Experience
SEATTLE, July 9, 2024 /PRNewswire/ — Coldstream Capital Management, Inc. (“Coldstream”) today announced it has combined with Arnerich Massena, Inc. (“Arnerich Massena”), a Portland, Oregon-based investment advisory firm managing approximately $2 billion in client assets.
Founded over 30 years ago, Arnerich Massena is led by co-CEOs Reegan Rae, CPWA®, and Bryan Shipley, CFA®, CAIA®. Like Coldstream, the firm is independently operated and employee-owned. At the close of this partnership, Coldstream will have over $10 billion in assets under management.
“We are delighted to merge with Reegan, Bryan, and the rest of the Arnerich Massena team,” said Kevin Fitzwilson, Coldstream’s Managing Shareholder. “Joining forces with them is consistent with our longtime mergers and acquisitions strategy, which is laser-focused on aligning ourselves with partners who not only share our values and approach to service but are committed to remaining independent and employee-owned. I’m looking forward to what we can accomplish together.”
Arnerich Massena has seven advisors and employs a staff of 19. The firm will be incorporated into Coldstream as Team Rae, and all employees will become shareholders of Coldstream as part of the partnership arrangement. The team works with high-net-worth families and individuals and endowments and foundations, providing portfolio management and investment advisory services. In addition, Team Rae offers a range of family office-related services, including legacy planning, business exit planning, family governance, and generational wealth planning.
“Arnerich Massena has a proud history and a unique set of values, so the decision to combine with another firm didn’t come lightly, nor was it something that happened overnight,” said Rae, who is also a Managing Principal and Senior Investment Advisor with the firm. “Yet, after getting to know Kevin and the other members of Coldstream’s leadership team, it became clear that our two firms share a common operating structure, business vision and, importantly, a focus on culture rooted in service, intellectual curiosity, and integrity.”
This announcement comes after Coldstream last month expanded its strategic client service offerings with the launch of Coldstream Risk Management, formerly known as FIT Insurance, a subsidiary of the firm. It also follows the successful merger last fall with two other Pacific Northwest financial services providers: Seidman Capital Group (“SCG”), a wealth management firm, and Hersman Serles Almond, LLC (“HSA”), an accounting and consulting services firm.
Shipley, who also serves as Chief Investment Officer, Managing Principal, and Senior Investment Advisor with Arnerich Massena, concluded, “Merging with Coldstream is a continuation of our core philosophy of only doing that which benefits our clients. I am confident this move will enhance our ability to deliver a world-class, boutique-like service experience while still creating new efficiencies, more scale, and expanded investment opportunities for both firms’ clients.” Arnerich Massena was represented by DeVoe & Company, a leading consulting firm and investment bank to RIAs.
About Coldstream Wealth Management
Coldstream Wealth Management is an employee-owned, independently operated wealth management and investment advisory firm that has been earning the trust of high-net-worth clients since 1996. The firm guides clients through the complexity of wealth management so that they can have peace of mind while achieving their financial and lifestyle goals. Coldstream has offices in seven locations across four states. The firm is a wholly owned subsidiary of Coldstream Holdings, Inc. For more information, please visit https://www.coldstream.com/.
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SOURCE Coldstream Wealth Management
