Tiedemann commits to Impact Investing with Threshold Group Partnership
Tiedemann Wealth Management enters into a definitive purchase agreement with Threshold Group, a wealth-advisory firm and family office, founded by the Russell family and based in Seattle and known for its impact expertise.
New York and Seattle – October 12, 2017 - Tiedemann Wealth Management, a New York-based independent national wealth advisor with approximately $12 billion in assets under advisement, and Threshold Group, a wealth-advisory firm and family office with $3.4 billion in assets under management, founded by the Russell family and based in Seattle, today announced that they have entered into a definitive purchase agreement.
“The importance of having a similar culture and vision for delivering multi-generational value for the families and foundations we serve was paramount in deciding to work together,” said Michael Tiedemann, CEO and Chairman of the Board of the combined firm. “Many of our clients have shown interest in impact investing. The addition of Threshold’s expertise in this area to our existing investment platform and comprehensive services will be a welcome addition for our clients today and prospects in the future.”
George and Jane Russell founded Threshold Group in 1998 when George sold his global investment services firm known as Russell Investments. The Russell family were early innovators in impact investing making their first impact investment in 2006. Today, Threshold Group is an independent wealth advisor and a leader in the rapidly growing impact investment sector with $1.5 billion designated to impact investments that focus on companies, organizations and funds that generate measurable social and environmental benefit as well as financial return for their families, foundations and endowments.
“More and more, clients are insisting their portfolios align with their values, especially as diversified impact portfolios offer returns which are no longer considered concessionary,” said Eric Russell, who will join Tiedemann’s Board of Directors. “Many people, including younger investors, have the expectation to use their financial resources to benefit the greater good by investing in entities focused on making improvements in education, the environment, urban renewal, and more. We are very excited that the combined firm will offer all of our clients broader resources, a more robust technology platform, and deeper expertise across all service lines.”
Details of the transaction, expected to close in December, were not disclosed. The Russell family will assume an ownership stake in Tiedemann and will retain a relationship as a client. The combined firm will operate under the Tiedemann Wealth Management brand with approximately $15 billion in assets under advisement. The acquisition will extend the new firm’s geographic reach on the West Coast by adding Seattle to its offices in New York, San Francisco, Dallas, Palm Beach, Washington, D.C. and Wilmington, DE.