Seattle-based registered funding advisor Coldstream Wealth Administration has acquired accounting agency Harrison Berkman Claypool & Guard and its RIA, HBC Monetary Companies, which manages about $500 million in consumer belongings. The mix enhances Coldstream’s current tax and consulting follow and brings its whole belongings beneath advisement to $11.1 billion.
HBCG was based in 1977 and contains six professionals, 4 of whom are CPAs. 5 members of the crew additionally work for the RIA, which was launched in 2001 and supplies retirement planning and holistic portfolio administration. The corporations are led by James. B. Claypool.
The 2 corporations will stay independently operated and employee-owned. The group may also type a brand new crew inside Coldstream’s tax and consulting follow.
“This merger is a big step ahead in our dedication to delivering distinctive service and modern options to our shoppers,” Claypool mentioned in a press release. “Our mixed sources will empower us to supply a heightened, complete degree of service. Collectively, we’re well-positioned to strengthen the consumer expertise and supply our folks with extra alternatives for profession improvement.”
Established in 1996, Coldstream is one of some massive RIAs that’s employee-owned. For a couple of decade, Boston Personal partially owned the agency earlier than administration determined to purchase out the financial institution in 2011.
This follows its deal in July to merge with Arnerich Massena, a Portland, Ore.-based RIA with about $2 billion in belongings beneath administration.
In 2021, the agency mixed with Mercer Island, Wash.–based mostly Paracle Advisors, an RIA with about $1.4 billion in consumer belongings. Following that, the agency mixed with Rosenbaum Monetary, one other Portland-based agency, in 2021. In October 2023, Coldstream consolidated with Seidman Capital Group, a wealth administration agency, and Hersman Serles Almond, which supplies accounting and consulting providers. The 2 Kirkland, Wash.-based affiliated companies had been based by Hersman Managing Accomplice Victoria Serles.
Additionally, in 2023, Coldstream employed Matt Sonnen as chief working officer to assist with the identification, onboarding and integration of latest corporations.