When Cresset announced a strategic combination with Monticello Associates, one of the nation’s most respected investment consulting firms, it represented a broader trend of investment consulting firms and multi-family offices coming together to provide the scale and depth of services UHNW clients increasingly demand. By bringing together Cresset’s comprehensive family office services and Monticello’s deep experience serving institutions and UHNW families, the depth and breadth of services available to clients is greatly expanded.
We sat down with Grady Durham, Founder of Monticello Associates, to learn more about what inspired this partnership, why Cresset proved the right cultural and strategic fit, and how the combination strengthens both organizations for the future.
Grady, you founded a highly respected firm with a long track record of success. What inspired you to begin exploring a partnership with a multi-family office?
Our industry has been evolving rapidly. In recent years, I have seen significant consolidation reshape the consulting landscape, with many of our largest competitors acquired by much larger institutions. For the first time, scale and balance sheet strength have become central to success.
In that environment, I felt it was important to explore a partnership that would help us continue delivering the quality, insight, and service our clients deserve. There was strong interest in Monticello, which was gratifying, but Cresset quickly stood out as the clear choice, for both our clients and our team. This partnership allows us to stay true to who we are while gaining the scale, research depth, operational support, and technology needed to continue improving the way we serve clients.
What made Cresset the right fit for Monticello, culturally and strategically?
This decision was all about cultural alignment. We have always been a client-first, team-driven, and entrepreneurial firm, and we found those same values at Cresset. The firm’s ownership structure, majority held by employees and clients, along with its collaborative spirit and unwavering commitment to putting clients first deeply resonated with us.
We were also intentional about not running an auction process. Some of the largest global financial institutions in our industry expressed strong interest in partnering with Monticello, but we knew that Cresset offered the best fit culturally, strategically, and philosophically. My more than 30-year relationship with Cresset’s leadership team gave me confidence in that alignment, and the response from our clients validated the decision, with 100 percent providing their consent to join Cresset.
Every interaction since has reaffirmed that this was the right move. In a consolidating industry, the greater risk would have been to stand still.
Why was this the right moment to take this step in Monticello’s evolution?
This partnership came at the right moment in our firm’s journey. I am proud of what we have built and felt it was the right time to take the next step from a position of strength. Partnering with Cresset allows us to preserve Monticello’s independence while gaining new resources, greater scale, and the long-term stability to support continued growth.
As you look ahead, how do you envision this partnership enhancing the experience and opportunities for Monticello’s clients?
Our clients will continue working with the same teams they know and trust, but now with the added benefit of expanded capabilities through Cresset. Our research platform has expanded, supported by a deeper bench of professionals and enhanced technology that will allow us to deliver even greater insight and efficiency.
For our UHNW client families, this partnership also opens access to a comprehensive suite of family office services, including family governance and education, concierge services, wealth transfer and more.
What advice would you offer to other founders or leaders who are considering a similar partnership or transition?
Too often, firms approach a transaction purely as a financial decision, but the real measure of success lies in shared values, vision, and purpose. From the start, we were confident that Cresset’s culture, grounded in entrepreneurship, collaboration, and a client-first mindset, reflected the same principles that have guided Monticello since its founding.
This is a true partnership, built on mutual respect and a shared commitment to serving clients with excellence. What mattered most to us was finding a partner that would honor our culture, empower our people, and strengthen the long-term experience for our clients. That is what I’d encourage any founder to prioritize.
Our partnership with Cresset represents more than a strategic partnership; it reflects a shared vision for how independent, client-focused firms can thrive in a rapidly evolving industry. Together, we will continue to build on our complementary strengths to deliver enduring value for clients, families, and institutions across generations.
About Cresset
Cresset is an independent, award-winning multi-family office and private investment firm with more than $70 billion in assets under management (as of 7/1/25). Cresset serves the unique needs of entrepreneurs, CEO founders, wealth creators, executives, and partners, as well as high-net-worth and multi-generational families. Our goal is to deliver a new paradigm for wealth management, giving you time to pursue what matters to you most.
https://cressetcapital.com/disclosures/