Cresset Asset Management and Berman Capital Advisors are merging to create a $20 billion multi-family office, the two firms announced Tuesday.

The firm created by the merger will have offices in 11 markets across the United States, and the deal will add significantly to Cresset’s presence in the Atlanta area in particular. The merger is expected to be completed Thursday.

Berman is an independent multi-family office founded in 2010 that currently manages $4.7 billion in assets for clients. The boutique firm has offices in Atlanta and Austin.

Cresset is a boutique multi-family office that was launched in 2017 by co-founders Eric Becker and Avy Stein. While Cresset has partnered with other, culturally aligned firms, nearly two-thirds of Cresset’s overall growth has been organic, the firm said.

“Cresset and Berman are a strong cultural fit and share a commitment to excellence, integrity, independence and results. Together, we will offer even greater access to our boutique family office services,” Stein said. “Both the Cresset and Berman teams are extremely entrepreneurial in our approach to client service and investment strategy.”