Based in Bellevue Coldstream Wealth Management today announced a merger with LWM Wealth Management, a Kenai, Alaska-based company with approximately $170 million in assets under management. This move builds on Coldstream’s recent expansion.
Coldstream’s LWM deal follows its mergers last year with Paracle Advisors of Mercer Island and Rosenbaum Financial of Portland, Oregon, and the company’s opening of an office in Boise, Idaho, announced in February. David McIntosh, an Idaho native who previously worked at Coldstream’s Mercer Island office, leads the Boise office, according to an earlier announcement.
LWM, owned by Roy A. Wells and Mark Griffin, Certified Financial Planners, will operate under the Coldstream brand. Upon completion of the merger, Coldstream will have 26 financial advisors, 122 employees and more than $7 billion in assets under management, according to a press release issued today.
In the statement, Kevin Fitzwilson, Coldstream’s managing shareholder, said Wells and Griffin have built a vibrant independent practice, adding, “Their culture of service and integrity aligns perfectly with Coldstream’s core values, so we look forward to working together to support the hardworking people of Alaska’s investing and financial planning needs. »
Post-merger, Wells, Griffin and Client Services Associate Michelle McGlasson will join Bellevue’s existing team led by Coldstream co-founder Roger Reynolds, who also leads the company’s Disability Advisory Services group. company that provides personalized wealth management and tailored solutions. for people with disabilities and their families.
Griffin said his company did extensive due diligence and met with numerous companies before settling on Coldstream.
“Their value proposition of providing comprehensive, transparent and objective advice through an employee-owned and independently managed corporate structure convinced us that they were the right partner,” he said. he stated in the statement. “We are delighted to take this next step in the growth of our practice by merging with Coldstream and collaborating with Roger and his highly respected team of investment professionals.”
The transaction reflects Coldstream’s continued commitment to growing its business under an employee ownership model while avoiding the private equity financing common to many other M&A transactions, according to the statement.