Our Story

Sometimes personal experience can lead to business transformation – innovative approaches to legacy industries and enterprise practices – that’s exactly what happened at Cresset

Eric Becker and Avy Stein, long-time friends, entrepreneurs, business associates and fellow philanthropists, individually experienced difficult personal events a few years ago—a family death and a life-threatening illness—that changed the way they thought about creating business value and their contributions to society.

After years of starting, backing and nurturing private companies, they accumulated the know-how to build businesses for the longer-term—how to balance private investment with public—and how to bring more value to more people. Eric and Avy started to wonder why personal wealth advisors did not offer the kinds of sophisticated advice and access to direct investments that were available to them and their private equity colleagues.

Why wasn’t the ecosystem of ideas, solutions, and sophisticated talent enjoyed by businesses and the ultra wealthy available to more individuals and families? Why were so many personal investment options fraught with conflicts of interest, lack of transparency, excess fees, and, limited ability to outpace public market returns? Why weren’t digital reporting tools as simple and easy as on-line shopping?

In an era of disruption, why hadn’t personal wealth advisory and investment services been rethought? It seemed like such an obvious gap, but no one appeared to be filling it.

Together, Eric and Avy started researching available private wealth management models. Their passion kept them asking questions: “Why not truly put clients first?” “Why not offer private as well as public investment solutions, while providing deep, comprehensive financial planning?” “What if we made direct investment opportunities available and paid annual dividends?” “What if we could change the way people experience wealth and enhance their financial well-being by going beyond the traditional?”

Their questions led to exciting answers, and Cresset Wealth Advisors was born.