Disclosures

Cresset refers to Cresset Capital Management and all of its subsidiaries and affiliates. Cresset Asset Management, LLC provides investment advisory, family office, and other services to individuals, families, and institutional clients. Cresset Partners, LLC provides investment advisory services strictly to investment vehicles investing in private equity, real estate and other investment opportunities. Cresset Asset Management, LLC, also conducting business as PagnatoKarp (“Advisor”), and Cresset Partners, LLC are SEC registered investment advisors.

AUM: Advisor has $11.2 billion Assets Under Management (AUM) as of 11/10/20, $10.6 billion  as of 9/22/20, and $10.2 billion AUM as of 8/10/20.

Retention Rate: Advisor client retention rate as of 10/6/20.

True Fiduciary®: Please note that the Advisor has affiliations, through common ownership and/or control, with other registered investment advisors, registered financial service institutions, and pooled investment vehicles. The Advisor may recommend its affiliates’ products and services to clients. The True Fiduciary® Standards have been adopted by the Advisor and not its affiliated entities. In no event is a client obligated to use affiliates’ services or purchase products.

Rankings and Awards:

Third-party rankings, awards listings and/or recognition by unaffiliated third-party rating services and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Advisor is engaged, or continues to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of Advisor by any of its clients. Third-party rankings and recognition from rating services and publications do not guarantee future investment success. Working with a highly-rated investment advisor also does not ensure that a client or prospective client will experience a higher level of performance. Generally, but not always, ratings, rankings and recognition are based on information provided by Advisor to be considered for the award and does not pay an application fee to participate. 

Rankings are provided for informational purposes only and should not be used as the sole basis for engaging Advisor for advisory services. Please refer to the more thorough disclosure and additional information about the criteria used in making these rankings via the website of the publication and/or organization granting such recognition.

In June, 2020, Advisor acquired PagnatoKarp Partners (PKP) located in Reston, VA. Investment advisory and related services which were formerly provided by PKP are now provided through Advisor.

The principal advisors from PKP are now affiliated with Advisor. Thus, those individuals who were primarily responsible for the PKP investment advisory and related services currently provide substantially the same services in substantially the same manner on behalf of Advisor. While past performance and achievements of PKP are not indicative of future results for the principal advisors now at Advisor, presented below include some achievements, awards, and other recognitions received by PKP prior to the acquisition.

Top 25 Largest RIAs in the Country: Source: Based on the methodology used from InvestmentNews’ RIA Data Center AUM. Most recently update June 5, 2019, for fee-only advisors. https://data.investmentnews.com/ria

Barron’s: America’s Best RIA Firms are based on the value of assets under management by the advisor and their teams, revenue generated for the advisor’s firms and the quality of advisors’ practices. The scoring system assigns a top score of 100 and rates the rest by comparing them with the top-ranked advisor. According to Barron’s, “The formula [used] to rank advisors has three major components: assets managed, revenue produced and quality of the advisor’s practice. Investment returns are not a component of the rankings because an advisor’s returns are dictated largely by each client’s risk tolerance. The quality-of-practice component includes an evaluation of each advisor’s regulatory record.” Additional categories also include technology spending, staff diversity and succession planning. The rankings are based on the universe of applications submitted to Barron’s. The selection process begins with a nomination and application provided to Barron’s. Principals of Cresset Asset Management, LLC, also doing business as PagnatoKarp, self-nominated the firm and submitted quantitative and qualitative information to Barron’s as requested. Barron’s reviewed and considered this information, which resulted in the rankings.

Barron’s: Top 100 Financial Advisors and Top 100 Independent Financial Advisors are based on the value of assets under management by the advisor and their teams, revenue generated for the advisor’s firms and the quality of advisors’ practices. The scoring system assigns a top score of 100 and rates the rest by comparing them with the top-ranked advisor. According to Barron’s, “The formula [used] to rank advisors has three major components: assets managed, revenue produced and quality of the advisor’s practice. Investment returns are not a component of the rankings because an advisor’s returns are dictated largely by each client’s risk tolerance. The quality-of-practice component includes an evaluation of each advisor’s regulatory record.” The rankings are based on the universe of applications submitted to Barron’s. The selection process begins with a nomination and application provided to Barron’s. PagnatoKarp self-nominated the advisors and submitted quantitative and qualitative information to Barron’s as requested. Barron’s reviewed and considered this information, which resulted in the rankings.

Barron’s: Top 1,200 Financial Advisors: State-By-State – The rankings are based on data provided by over 4,000 of the nation’s most productive advisors. Factors included in the rankings: assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work. Investment performance isn’t an explicit component because not all advisors have audited results and because performance figures often are influenced more by clients’ risk tolerance than by an advisor’s investment-picking abilities. A ranking of “N” denotes “not ranked that year”.

Citywealth Magazine: Citywealth International Financial Centre Awards were established to highlight the excellence of the advisers and managers in the private wealth sector in the major international financial centres. Judged by an international panel of highly respected practitioners from all private wealth sectors covering all the jurisdictions. The winners are those judged to have excelled in achievement, innovation, expertise and service. A unique opportunity for both large and small offshore companies to be recognised for an outstanding achievement. Firms submit information to be considered for the award and do not pay an application fee to participate. 

Crain’s Chicago Business: Crain’s Notable Executives series features best in class executives across a range of industries in the Chicago-area.

Family Wealth Report: Best Multi-Family Office Awards – Showcasing ‘best of breed’ providers in the global private banking, wealth management and trusted advisor communities, the awards are designed to recognize companies, teams and individuals which the prestigious panel of judges deemed to have ‘demonstrated innovation and excellence during the year’. These awards were judged solely on the basis of entrants’ submissions and their response to a number of specific questions, which had to be answered focusing on the client experience, not quantitative performance metrics. There is no application fee to participate. There were three judging panels for the awards: a panel of trusted advisers responsible for judging the family office and banking categories; a second panel of family office and banking professionals to judge the trusted adviser categories; a third panel dedicated to judging the technology section. This policy helps ensure that commercially sensitive information is kept confidential and to avoid conflicts of interest.

FA Magazine: RIA Survey & Ranking – To be eligible, firms must be independent registered investment advisors and file their own ADV statement with the SEC, and provide financial planning and related services to individual clients. Firms complete and submit a survey on their firm’s behalf and each is represented in the final survey ranking. The annual ranking is based on the previous year’s assets for discretionary and nondiscretionary assets reported on Form ADV.

Financial Times: FT Top 300 RIAs – For RIAs to qualify, the Financial Times considers advisor AUM that had to be $300 million or more, asset growth, the company’s age, industry certifications of key employees, SEC compliance record and online accessibility. Neither the RIA firms nor their employees pay a fee to The Financial Times for inclusion in the FT 300.

Forbes Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years experience, and the algorithm weights factors like revenue trends,  assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying  client objectives and lack  of audited data. Neither Forbes or SHOOK receive a fee in exchange for rankings.

Forbes: Top Wealth Advisors,  developed by Shook Research, is based on overall quality of practice and an algorithm of qualitative and quantitative data received in nominations from over 11,000 professionals in the financial services industry, including banks, brokerages, custodians, insurance companies, clearing houses and registered investment advisers. Criteria includes client retention, industry experience, review of compliance records, firm nominations; as well as assets under management and revenue generated for their firms. Advisors must have a minimum of seven years of experience to be considered.

Forbes: America’s Top Women Wealth Advisors, developed by SHOOK Research, is based on an algorithm of: qualitative data, such as telephone and in-person interviews, a review of best practices, service and investing models, and compliance records; as well as quantitative data, like revenue trends and assets under management. All advisors have a minimum of seven years’ experience. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings.

Forbes: America’s Top Next-Gen Wealth Advisors – SHOOK Research considered advisors born in 1980 or later with a minimum 4 years relevant experience. Advisors have built their own practices and lead their teams; joined teams and are viewed as future leadership; or a combination of both. Ranking algorithm is based on qualitative measures derived from telephone and in-person interviews and surveys: service models, investing process, client retention, industry experience, review of compliance records, firm nominations, etc.; and quantitative criteria, such as assets under management and revenue generated for their firms. Investment performance is not a criteria because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research, LLC. Neither SHOOK nor Forbes receives compensation from the advisors or their firms in exchange for placement on a ranking. For more information see www.SHOOKresearch.com.

InvestmentNews: Best Places to Work for Financial Advisers program showcases financial advice businesses that create supportive work environments for all their professionals. It is from these encouraging foundations that advice firms can provide high quality and personalized investment and financial planning for clients. Each year, this project is conducted in partnership with employee survey firm Best Companies Group. Winners are selected from a two-part survey completed by employers and employees. Employers report their organization’s workplace policies, practices and demographics, and employees complete a survey designed to measure the employee experience. Scores from the employee survey represent three-quarters of the weight of the final rankings. To qualify as one of InvestmentNews Best Places to Work for Financial Advisers, an advice firm must have at least 15 employees and have been in business for one year. There is no charge to register.

Martindale-Hubbell® Peer Review Ratings™, the gold standard in attorney ratings, have recognized lawyers for their strong legal ability and high ethical standards for more than a century. Peer review ratings and client review ratings taken together deliver a comprehensive view of a lawyer’s legal abilities and service and benefit the entire legal community; Best  Lawyers recognition is based entirely on peer review. The methodology is designed to capture, as accurately as possible, the consensus opinion of leading lawyers about the professional abilities of their colleagues within the same geographical area and legal practice area. Best Lawyers employs a sophisticated, conscientious, rational, and transparent survey process designed to elicit meaningful and substantive evaluations of the quality of legal services.

Northern Virginia Magazine: The Top Financial Professionals listing is created from survey votes by peers in the financial industry from the following categories: broker, financial planner, insurance adviser, investment adviser and tax accountant.

Private Asset Management: Winners of the PAM awards are comprised of individuals and firms who have been nominated via an online submission process and through recommendations from market participants. Judges use the submitted application material, as well as any uploaded supplemental information, to determine which firm, individual or product they believe to be the most suitable and deserving for each category. Third-party rankings, awards listings and/or recognition by unaffiliated third-party rating services and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Cresset is engaged, or continues to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of Cresset by any of its clients. Third party rankings and recognition from rating services and publications do not guarantee future investment success. Working with a highly-rated investment advisor also does not ensure that a client or prospective client will experience a higher level of performance. Generally, but not always, ratings, rankings and recognition are based on information provided by Cresset. Cresset submitted the information to be considered for the award and did not pay an application fee to participate. Cresset is not affiliated with PAM.

ThinkAdvisor: Candidates for the Advisor Hall of Fame must have passed the rigorous screens, served a minimum of 20 years in the industry, acquired substantial assets under management, demonstrated superior client service and earned recognition from their peers and the broader community for the honor they reflect on their profession.

Virginia Business Magazine: Virginia Business Best Places to Work – Companies from across the state participate in a two-part survey process to determine the 100 Best Places to Work in Virginia. Part one examines each entrant company’s workplace policies, practices, benefits and demographics. Part two consists of an employee engagement and satisfaction survey. The combined scores from parts one and two determine the top companies. Best Companies Group manages the overall registration, evaluation and selection process.

Virginia Business Magazine: The Virginia Business Legal Elite list is compiled from nominations and votes submitted by the members of the Virginia Bar Association and Virginia State Bar. It has been published annually since 2000 by the magazine.

Washingtonian: Top Financial Advisers – Survey of hundreds of area financial professionals. Fee-only advisors include certified financial planners who do not accept commissions or referral fees.

Washington Business Journal: Best Places to Work – Rankings were determined by Omaha, Nebraska-based Quantum Workplace and are based on each company’s score on an employee engagement survey. To qualify for the small company category, firms must have between 10 and 24 local employees in the Washington region. Quantum queries, evaluates and scores participating companies in categories ranging from team effectiveness, trust in senior leadership and alignment with company goals.

Washington Business Journal: Washington’s Premier Wealth Advisors – National Association of Board Certified Advisory Practices (NABCAP) and its board of directors created an unaffiliated evaluation process in which 20 categories of practice management are assessed. Advisors are invited and/or nominated to participate by submitting an online questionnaire. The multi-step verification process utilizes independent resources to assess the accuracy and truthfulness of the information submitted by advisory practices. NABCAP’s methodology is unique in deciphering advisors because it is primarily objective, not subjective and helps add transparency for the investor’s benefit.

Working Mother: SHOOK Research Top Wealth Advisor Moms considered wealth advisors who are mothers with at least one child living at home and under the age of 18. Ranking algorithm is based on qualitative measures derived from telephone and in-person interviews and surveys: service models, investing process, client retention, industry experience, review of compliance records, firm nominations, etc.; and quantitative criteria, such as assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research LLC. Neither SHOOK nor Working Mother receives compensation from the advisors or their firms in exchange for placement on a ranking.