HOUSTON – July 27, 2021 – Cresset Asset Management (“Cresset”) announced today that it has partnered with Asset Management Advisors, Inc., a boutique family office based in Houston and founded by Lynn Mathre. With this acquisition, Cresset now manages more than $14.5 billion in assets¹ across 10 offices around the nation.
This move also significantly expands Cresset’s presence in the Houston and Texas markets, which began earlier in 2021 with the addition of former Senior Goldman Sachs Advisor Hanley Sayers in February.
Asset Management Advisors offers wealth management services to high-net-worth individuals, families, trusts, and foundations. Founded in 1986, the firm’s mission is to provide exceptional client service. Asset Management Advisors specializes in tax-aware wealth management and provides comprehensive financial and tax reporting on client investment portfolios. This includes traditional equity and fixed income investments, alternative investments, as well as stock options and restricted shares for public company executives.
“After nearly 35 years of building Asset Management Advisors, a firm that is committed to client service, I am confident Cresset is the right partner to take our business to the next level and offer our clients a truly holistic array of wealth management and family office services. I am very excited about what is to come,” said Mathre, President and Founder of Asset Management Advisors.
“We immediately resonated with Cresset Asset Management’s True Fiduciary® Standards and the commitment that clients’ interests always come first,” added Ray Fernandez, Jr., Senior Private Wealth Advisor with Asset Management Advisors. “Cresset’s award-winning boutique family office services will help to enhance our ability to serve the families of Houston and the broader Texas market.”
Cresset launched in 2017 with a vision to deliver a new paradigm for wealth management. As long-time wealth management clients themselves, Co-Founders Eric Becker and Avy Stein set out to create a firm that delivers the comprehensive, personalized services they felt were missing in the wealth management industry. Today, Cresset is a Barron’s and Forbes Top Ranked Advisor¹ and offers individuals and families access to a comprehensive suite of family office services, private investing opportunities, wealth advisory services, and an ecosystem and community of peer-to-peer learning opportunities.
“We are thrilled to join forces with the team at Asset Management Advisors. They share our values and are the ideal partners to help us further expand Cresset’s presence in the Texas market, which is a key component of our long-term growth strategy,” Becker said. “The tax-planning sophistication of the Asset Management Advisors team, along with their ability to identify attractive alternative investment opportunities on behalf of clients, will significantly enhance Cresset’s family office capabilities.”
“We continue to explore aligning with firms like Asset Management Advisors that share our vision, culture, and commitment to long-term growth,” said Chris Boehm, Managing Partner of Cresset Partners, who leads Cresset’s investments in the RIA sector.
Cresset offers access to a comprehensive suite of family office services, deeply personalized wealth management, investment advisory, planning, and other services through Cresset Asset Management, LLC. Cresset Partners, LLC, Cresset’s private investing group, offers clients direct access to institutional-quality real estate, private equity, private credit, and other investment opportunities. Cresset Asset Management, LLC, and Cresset Partners, LLC, are SEC registered investment advisors.