Employee-Owned Coldstream Acquires $2B Oregon-based Cable Hill Partners
Coldstream Wealth Management, an employee-owned registered investment adviser, announced it has combined with Cable Hill Partners LLC, a Portland, Ore.-based investment advisory firm managing approximately $2 billion in client assets. Although the terms were not disclosed, the merger closed on June 1.
Founding partners David Christian and Brian Hefele own and operate Cable Hill, which offers investment advisory services to high-net-worth individuals, trusts, estates, charitable organizations, and businesses. The firm also provides comprehensive retirement plan support. Christian also serves as chief growth officer.
“In working with David, Brian and the rest of the Cable Hill team, it has become clear that we share very similar values of independence and service,” said Kevin Fitzwilson, Coldstream’s managing shareholder.
The Cable Hill team comprises 29 professionals, including 13 advisers and 16 support staff, who will become shareholders of Coldstream as part of the partnership arrangement.
“Cable Hill’s approach is completely complementary to our comprehensive offerings and bringing them aboard advances our strategy to deliver a full range of financial services for individuals and institutions as an independent and employee-owned firm. I look forward to what we can accomplish together,” added Fitzwilson.
Supporting $13 billion in total client assets, the combined entity includes 40 certified financial planner professionals, 15 chartered financial analysts, and 22 certified public accountants, along with 19 individuals who earned an MBA and six with JD degrees.
“Over the past several years, we have carefully considered how to continue to serve our clients’ evolving needs and grow our business while staying true to our deeply held values,” said Christian. “While there were several firms that wanted to help us reach the next phase of our business, Coldstream was the only partner we considered. I’ve worked with their leadership for years and their vision for this industry, independent ownership structure and approach to team building give us exactly what we need to better serve our individual and institutional clients.”
This latest acquisition represents Coldstream’s third large expansion in Portland. Coldstream completed a merger earlier this year with Harrison Berkman Claypool & Guard and its RIA with $500 million in assets under management, HBC Financial Services. Coldstream said the collaboration enhanced its tax service offering, which the firm launched after its merger with Seidman Capital Group and Hersman Serles Almond LLC in October 2023. These services are available as part of Coldstream’s tax and consulting service line. In July 2024, as previously reported by AltsWire, Coldstream merged with Arnerich Massena Inc., a Portland-based investment advisory firm managing approximately $2 billion in client assets.
Recently, the firm renamed its investment banking offering to Coldstream Capital Partners, as part of a larger effort to deliver a complete set of financial services for individuals and families, as well as institutional clients under the Coldstream brand. According to Coldstream, its combination with Cable Hill Partners will enhance its ability to provide retirement plan services to its institutional clients.
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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