New York-based Tiedemann Wealth Management will purchase the Threshold Group, a Seattle-based advisor and family office with $3.4 billion in AUM, in a deal announced on Thursday.
Threshold Group, an impact investing specialist founded by George and Jane Russell in 1998 after the sale of Russell Investments, will continue to serve the Russell family. The Russell family will take an ownership stake in Tiedemann.
Both firms will move forward under the Tiedemann Wealth Management brand, serving a combined $15 billion in client assets, according to the announcement. Additional terms of the deal were not disclosed.
The deal was announced by New York-based Silver Lane Advisors, which advised on the transaction.