Laird Norton Wealth Management (LNWM) and Wetherby Asset Management (WAM) today announced a merger that establishes a national presence with offices in Seattle, San Francisco, Los Angeles and New York City and total client assets of more than $15 billion.
LVWM’s CEO Kristen P. Bauer will serve as CEO of the combined firms and Debra Wetherby will maintain the role of managing partner of WAM and serve on an expanded LNWM board of directors, the release said. It also noted that “senior leadership teams will work together to integrate operations over time in a measured and deliberate manner to co-create a stronger organization that represents the best of both firms.”
Bauer, according to her LinkedIn profile, was appointed CEO of LVWM in April 2020. Prior to that, she was a managing director at Tiedemann Advisors for more than two years.
“The team at Wetherby combines a deep level of expertise with an impressive culture of caring and passion that produces outstanding results for their clients,” Bauer said in a statement. “This is a merger of independent firms who share the DNA of offering conflict-free investments and financial advice to provide clarity on important life and legacy goals. Coming together will create more value for clients than just the sum of our parts.”
Wetherby, who founded WAM in 1990, said the firm was built “to be a trusted partner to our client families for generations, and there’s no better partner for our future than a firm that brings generations of experience to the table. ... In Laird Norton, we’ve found a partner that shares our values and vision for the future, and we’re thrilled to go on this journey together."
The combined family and employee-owned company, the release noted, “will retain both the Laird Norton Wealth Management and Wetherby Asset Management names and will continue to serve high- and ultra-high-net-worth families with sophisticated investment services including impact investing, private equity and other alternative investing solutions; trust services and multi-generational estate planning; philanthropic advising; family business and real estate advisory services; and financial and tax planning.”
Jeff Vincent, Laird Norton Company (LNC) CEO said the combination of Wetherby with Laird Norton Wealth Management is a strategic investment “to nurture the development of LNWM since its founding in 1967.” He added that it is “It is consistent with the vision LNC has pursued to sustain a durable and dynamic wealth management organization that puts the interests of clients first.”
Seattle-based Laird Norton Company is a seventh-generation, family-owned enterprise with significant investments in real estate and operating companies. It is the majority owner of Laird Norton Wealth Management (LNWM), and owns Laird Norton Properties, a Seattle-based real estate investment firm.