Coldstream Merges With Portland-Based Arnerich Massena to Reach $10 Billion AUM
Coldstream Capital Management Inc. has combined with Arnerich Massena Inc., a Portland, Ore.-based investment advisory firm managing approximately $2 billion in client assets.
Founded more than 30 years ago, Arnerich Massena is led by co-chief executive officers Reegan Rae, CPWA, and Bryan Shipley, CFA, CAIA. Like Coldstream, the firm is independently operated and employee-owned. At the close of this partnership, Coldstream will have over $10 billion in assets under management.
“We are delighted to merge with Reegan, Bryan, and the rest of the Arnerich Massena team,” said Kevin Fitzwilson, Coldstream managing shareholder. “Joining forces with them is consistent with our longtime mergers and acquisitions strategy, which is laser-focused on aligning ourselves with partners who not only share our values and approach to service but are committed to remaining independent and employee-owned. I’m looking forward to what we can accomplish together.”
Arnerich Massena has seven advisors and employs a staff of 19. The firm will be incorporated into Coldstream as Team Rae, and all employees will become shareholders of Coldstream as part of the partnership arrangement.
The Arnerich Massena team works with high-net-worth families and individuals and endowments and foundations, providing portfolio management and investment advisory services. In addition, Team Rae offers a range of family office-related services, including legacy planning, business exit planning, family governance, and generational wealth planning.
“Arnerich Massena has a proud history and a unique set of values, so the decision to combine with another firm didn’t come lightly, nor was it something that happened overnight,” said Rae, who is also a managing principal and senior investment adviser with the firm. “Yet, after getting to know Kevin and the other members of Coldstream’s leadership team, it became clear that our two firms share a common operating structure, business vision and, importantly, a focus on culture rooted in service, intellectual curiosity, and integrity.”
This announcement comes after Coldstream last month expanded its strategic client service offerings with the launch of Coldstream Risk Management, formerly known as FIT Insurance, a subsidiary of the firm. It also follows the merger last fall with two other Pacific Northwest financial services providers: Seidman Capital Group, a wealth management firm, and Hersman Serles Almond LLC, an accounting and consulting services firm.
“Merging with Coldstream is a continuation of our core philosophy of only doing that which benefits our clients. I am confident this move will enhance our ability to deliver a world-class, boutique-like service experience while still creating new efficiencies, more scale, and expanded investment opportunities for both firms’ clients,” concluded Shipley, who also serves as chief investment officer, managing principal, and senior investment adviser with Arnerich Massena.
Coldstream Wealth Management is a wealth management and investment advisory firm that has been earning the trust of high-net-worth clients since 1996. Coldstream has offices in seven locations across four states.
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