SEATTLE, April 3, 2017 /PRNewswire/ -- Coldstream Holdings, Inc. (CHI), the parent company of Coldstream Wealth Management, a registered investment adviser, announced today that it has closed its merger with The Rainier Group, Inc., a Bellevue firm that offers investment advisory and mid-market business consulting services. Rainier Group Investment Advisory, LLC is now doing business as Coldstream Wealth Management, and Rainier Group Business Advisory continues to operate under the name and brand of The Rainier Group, Inc.
Rainier Group Investment Advisory, which managed $760 million in assets for over 325 clients, was founded in 1988 and embodied many of the same core values that contributed to Coldstream's success. With the addition of Rainier Group Investment Advisory, Coldstream Wealth Management now manages approximately $2.8B in assets for over 1,300 clients, and continues to offer affluent individuals and families financial planning, investment management, and comprehensive wealth management services. Coldstream continues to grow both organically and through mergers with other local, like-minded firms, and has offices in both Bellevue and Seattle.
Continuing to expand upon the "small firm values and big firm reach" that its tagline espouses, Coldstream is excited to welcome the skilled and dedicated professionals of Rainier Group. "We've known the individuals at Rainier Group for years and have tremendous respect and admiration for the firm they have built. Their team brings unique intellectual capital, resources, and energy to Coldstream," said Kevin Fitzwilson, Managing Shareholder, Coldstream Holdings, Inc. "Integrating our companies will enhance our offering and client experience, and provide even more growth opportunities for our key personnel."
Also based in Bellevue, Rainier Group sees this move as a natural progression and a smart step forward for its clients and staff. "We're thrilled to be a part of Coldstream, a firm we've known and admired for a number of years," said Mark Pellegrino, former Managing Director of Rainier Group Investment Advisory and now head of Coldstream Wealth Management's sixth client advisory team. "Our clients will receive great benefit from our shared investment philosophy, client-first service culture and core values, along with the robust resources we'll devote to shepherding their wealth."
Rainier Group's mid-market consulting business, Rainier Group Business Advisory, has also joined Coldstream's family of services, providing complementary solutions for clients who are business owners. David Roberts, the former President of Rainier Group will continue to lead the business consulting operation and will join CHI's Board of Directors. Roberts sees clear opportunity in this union: "I really believe this merger will be beneficial for our clients and employees. We have great respect for Coldstream and are excited to be working together to bring integrated services to our clients." Rainier Group's consulting services are now part of the Coldstream family which includes Fit Insurance, Ascent Capital, and Genesee Investments. Bob Gruber, former CEO of Rainier Group, and Skip Bell – both founders – expressed their excitement concerning the next phase of their company's journey and emphasized their enthusiasm to be an ongoing part of the combined organization.
ABOUT COLDSTREAM WEALTH MANAGEMENT
Founded in 1996 in Bellevue, WA, Coldstream was started with a higher purpose in mind – enhancing people's lives. As the firm grew, our vision began to take shape – to become the definition of excellence in our industry and with our clients. To achieve this, we defined a clear mission: providing peace of mind and strengthening relationships with insight, passion, and action – every client, every day. Clients choose us and stay with us because of who we are and how we work; we have small firm values with big firm reach. We are passionate about and dedicated to every relationship, and we drive results by working with you directly on what matters most. We build relationships with the generations of a family's wellbeing in mind. At Coldstream, we don't just listen – we hear you. Learn more about our sophisticated mix of financial services that include comprehensive financial planning, customized portfolio management, and personalized client services by visiting us at www.coldstream.com.
ABOUT THE RAINIER GROUP, INC.
Since 1988 The Rainier Group, Inc. has advised over 1000 affluent individuals, charitable organizations, businesses and business owners nationwide in the areas of wealth management and business transition. Headquartered in Bellevue, Washington, The Rainier Group has helped clients clarify complex issues, identify creative solutions, and implement strategies which put them on a path to achieve their business, family, and personal financial objectives.
Coldstream Wealth Management
One 100th Avenue NE #102, Bellevue, WA 98004 ● P: (425) 283-1600 ● F: (425) 283-5100
1200 Westlake Ave. N, #900, Seattle, WA 98109 ● P: (206) 281-7700 ● F: (206) 281-8930
500 108th Avenue NE, #2000, Bellevue, WA 98004 ● P: (425) 463-3000
Leslie McCain, Marketing Specialist
Coldstream Wealth Management
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SOURCE Coldstream Wealth Management