Chicago RIA Reaches for the Sky to Build Presence in Key Western Market
Chicago-based RIA Cresset Asset Management is aiming to “expand its reach and presence in key markets” including the Mountain region, says newly-hired regional managing director Jeremy Shevlin. As part of the strategy, the firm is building out its Denver office and has just signed a 10-year lease for 11,000 square feet of new office space in one of Denver’s newest and tallest skyscrapers, the Optiv tower, Shevlin says.
“We don’t know the exact number” of advisors we plan to add to our Denver office, but “we are building for the existing team and for the team to build into the future,” he says.
Shevlin himself was just hired to lead a team of advisors in providing client services including: “balance sheet advice, developing multi-asset-class portfolios in liquid and illiquid private investments, and providing concentrated position and pre-liquidity guidance,” the press release notes.
“Cresset is looking to reinvent the way people experience wealth and help them get more out of life’s journey. It’s a once-in-a-lifetime opportunity to join a firm with amazing people and talent,” he says.
Before joining Cresset, Shevlin was a principal for a Boulder, Colo.-based multi-family office for over a decade. There he led a client advisory department and sat on both strategic and tactical investment committees.
Cresset also recently brought on Jason Mussetter, former vice president and senior portfolio manager of Wells Fargo’s Abbot Downing division, to serve as managing director and investment strategist for the Midwest region, the release notes. As part of his role, Mussetter will “design, construct, and manage customized investment strategies on behalf of Cresset’s clients,” the release says.
Additionally, Cresset has hired Whitney Webb as director of family wealth education. Webb will “lead the development of family wealth education initiatives, including curriculum and programming around topics such as: financial literacy, multi-generational engagement, leadership development, and money and relationships,” according to the firm.
The firm previously made headlines in December for recruiting two executives from Wells Fargo’s Abbot Downing unit and one senior manager from RSM.
The executives nabbed from Wells were previously wealth planning head for the wealth management and Abbot Downing divisions, and an Abbot Downing director responsible for client relationships. The RSM recruit specifically oversaw family office restructuring for the firm prior to the move.