Cresset Adds Former Bernstein Advisory Team With $1.4 Billion in AUM
By Staff
Cresset, a multifamily office and wealth manager with over $235 billion in assets under management, announced that it is expanding its Houston office with the addition of a wealth advisory team formerly with Bernstein Private Wealth Management.
The team, led by Michael Ellington, Zach Gardner and Danique van der Velden, managed $1.4 billion in assets in their former roles.
According to Cresset, the team has nearly 30 years of experience advising business owners, entrepreneurs and ultra-high-net-worth families, with a specific focus on pre- and post-transaction planning, including public and private investment management, estate, and tax planning.
“Michael, Zach, and Danique have built distinguished careers providing entrepreneurs and ultra-high-net-worth families with a holistic and personalized family office experience. Just as importantly, they share our values and commitment to creating enduring wealth and lasting legacies for our clients,” said Susie Cranston, president of Cresset, in a statement.
Ellington, who, according to his BrokerCheck profile, spent more than 25 years at Bernstein, will serve as executive managing director. Gardner will serve as managing director and wealth adviser. Van der Velden will serve as director and wealth adviser.
“Cresset is the perfect home for us to provide successful families with the comprehensive family office services that they expect today,” said Ellington. “Cresset’s vision to build a 100-plus-year firm resonates deeply with us, as does the alignment between employees, leadership, and clients.”
Headquartered in Chicago, Cresset is majority-owned by its employees, with a minority stake held by clients.
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