Cresset and Monticello Associates Announce Strategic Partnership to Create $196 Billion Wealth Management Powerhouse

Cresset, a client- and employee-owned multi-family office, has announced plans to partner with Monticello Associates, an independent investment consulting firm specializing in non-discretionary investment advisory services for foundations, endowments, and family offices. The strategic combination will create a formidable entity with nearly $200 billion in combined assets, positioning the partnership as a major force in the wealth management industry. This move significantly strengthens Cresset's institutional advisory capabilities while reinforcing its vision to build a 100+-year firm rooted in independence, innovation, and client-first values.

The partnership brings together Cresset's approximately $72 billion in assets under management with Monticello Associates' $124 billion in assets under advisement, creating a combined total of $196 billion. This scale provides clients with unprecedented access to leading fund managers in both public and private markets. Monticello Associates, founded in 1992 by Grady Durham, brings 175 long-term client relationships and 58 team members to the partnership, enhancing Cresset's sophisticated investment consulting business capabilities.

Avy Stein, Founder and Co-Chairman of Cresset, emphasized the strategic importance of the combination, stating that the decades-long relationship with Monticello Associates' leadership is rooted in shared values and a client-first mindset. The partnership expands access to premier investment opportunities across public and private markets while strengthening the vision to build a 100-year firm dedicated to serving families and institutions. Eric Becker, Founder and Co-Chairman of Cresset, highlighted that the combined scale will bring significant additional opportunities to clients while maintaining the bespoke and boutique approach to client service that both firms are known for.

Grady Durham, Founder and Executive Chairman of Monticello Associates, noted that the partnership ensures continuity for clients while enhancing the ability to meet their evolving needs. The combination brings robust research capabilities, global investment access, and a shared culture rooted in independence, excellence, and long-term alignment. The partnership is expected to close later this year, bringing the entire Monticello Associates team to Cresset and creating a platform that serves both families and institutions with enhanced capabilities and expanded investment opportunities.