Home Alts News Coldstream to Merge with $463 Million Wealth Management Firm

Coldstream to Merge with $463 Million Wealth Management Firm

Coldstream Wealth Management, an employee-owned, independently operated wealth management firm, announced plans to merge with Rosenbaum Financial.

Coldstream Wealth Management, an employee-owned, independently operated wealth management firm, announced plans to merge with Rosenbaum Financial, a Portland, Oregon-based registered investment advisor with approximately $463 million in assets under management.

Rosenbaum Financial will operate under the Coldstream brand, and all its employees will remain in place. Upon completion of the merger, the combined firm will include 30 financial advisors, 112 employees and manage more than $6.7 billion in assets.

The merger is the second transaction that Coldstream has undertaken this year while “purposefully avoiding private equity dollars as a funding source.” In May, Coldstream merged with Paracle Advisors, a greater Seattle-based RIA with approximately $1.4 billion.

“In combining with Rosenbaum Financial, we have once again demonstrated how it is possible to build a thriving wealth management business without having to rely on private equity dollars and private equity agendas,” said Kevin Fitzwilson, Coldstream’s managing shareholder. “We proudly bring a contrarian view to the current M&A environment, which assumes that private equity roll-up consolidation is the inevitable future of our industry.”

He added, “In contrast, we believe the employee-owned RIA remains the best possible model for avoiding conflicts of interest and maximizing the delivery of exceptional client service. Equally important, this merger shows that RIAs of all sizes are still hungry to align with like-minded partners that see the bigger picture in this same light.”

Rosenbaum Financial serves high-net-worth families and individuals, business owners, and institutions and provides investment management, retirement planning, insurance, estate planning, charitable giving, tax planning and business valuation, and succession planning.

Mark Rosenbaum, who served as Rosenbaum’s president and chief executive officer, will serve as relationship manager and team lead, while managing partner Kim Rosenberg will serve as relationship manager and wealth planner.

Founded in 1996, Coldstream provides high-net-worth clients with comprehensive wealth management, insurance and financial planning services.

The firm currently has offices in Bellevue, Mercer Island and Seattle, Washington.

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