Cresset Announces Strategic Combination with Monticello Associates, Approaches $200 Billion in Assets 

Monticello Associates provides highly specialized investment advisory services to prominent foundations, endowments, and family offices, and oversees $124 billion of non-discretionary client assets.

CHICAGO and DENVER – August 18, 2025 – Cresset, a client- and employee-owned multi-family office built by entrepreneurs for entrepreneurs, announced today that it plans to partner with Monticello Associates, an independent investment consulting firm that provides non-discretionary investment advisory services to foundations, endowments, and family offices.  Collectively, the firms will have nearly $200 billion in assets, with access to leading fund managers in both the public and private markets. The partnership is expected to close later this year.

This combination strengthens Cresset’s institutional advisory capabilities and reinforces its vision to build a 100+-year firm rooted in independence, innovation, and client-first values.

Founded in 1992 by Grady Durham, Monticello Associates delivers highly specialized investment advisory services to 175 long-term client relationships. Monticello Associates is 100% employee owned and oversees approximately $124 billion of non-discretionary assets under advisement (AUA) as of 12/31/2024. Headquartered in Denver, Monticello Associates also has offices in Cleveland, Boston, and Washington, D.C. The partnership will bring the entire Monticello Associates team – representing 58 team members – to Cresset and will pair Cresset’s leading multi-family office platform with Monticello Associates’ sophisticated investment consulting business.

“We’re thrilled to join forces with the team at Monticello Associates, a firm we’ve long respected for its deep expertise and sterling reputation in institutional investment advisory,” said Avy Stein, Founder and Co-Chairman of Cresset. “Our decades-long relationship with their leadership is rooted in shared values and a client-first mindset. Together, we’re creating a platform that not only expands access to premier investment opportunities across public and private markets but also strengthens our vision to build a 100-year firm dedicated to serving families and institutions with purpose, care, and innovation.”  

“Cresset and Monticello Associates have always been known for our bespoke and boutique approach to client service. That will never change. But together, our combined scale will bring significant additional opportunities to our clients,” said Eric Becker, Founder and Co-Chairman of Cresset. “Just as importantly, Cresset and Monticello Associates are a strong cultural fit in terms of values, investment philosophy, and long-term vision. We share a client-first mentality and are both proudly independent, entrepreneurial, and driven by innovation. We could not be more excited about what the future holds.”  

“Monticello Associates was founded 33 years ago with a singular focus: to provide premier families and institutions with sophisticated investment advisory services,” said Grady Durham, Founder and Executive Chairman of Monticello Associates. “Our partnership with Cresset allows us to expand that commitment for generations to come. It ensures continuity for our clients, while enhancing our ability to meet their evolving needs. Together, we bring robust research capabilities, global investment access, and a shared culture rooted in independence, excellence, and long-term alignment. Our entire team is proud to join forces with a firm that reflects our values and vision.”