Cresset Asset Management provides investment advisory and family office services. This fee-based firm has billions in client assets managed by a relatively large team of advisors. Cresset earns its compensation through asset-based fees and fixed fees, although firm affiliates and related persons can benefit when advisory clients invest in alternative investmetns through Cresset.
Certain members of the firm’s staff hold professional designations such as chartered financial analyst (CFA), Certified Financial Planner™ (CFP®) certified public accountant (CPA), certified private wealth advisor (CPWA), certified exit planning advisor (CEPA), certified trust and fiduciary advisor (CTFA) and more.
Cresset also holds a spot on SmartAsset's list of Illinois' top financial advisors, as well as the list for Chicago.
Cresset Asset Management Background
Founded by Avy Stein and Eric Becker in 2017, Cresset is a registered investment advisor (RIA) offering a variety of advisory services to individual and institutional clients. This firm is a subsidiary of Cresset Capital Management, LLC. Cresset is operated by Doug Regan, William Rudnick, Jack Ablin, Michael Costabile, Susan Cranston, Jessica Malkin and Amy Hong. The firm also conducts business as Cresset Sports & Entertainment.
Cresset Asset Management Client Types and Minimum Account Sizes
This firm serves both non-high-net-worth individuals and high-net-worth individuals, as well as pooled investment vehicles, charitable organizations, corporations and businesses.
Cresset Asset generally doesn’t impose a minimum account size requirement.
Services Offered by Cresset Asset Management
Cresset offers a wide range of services, wealth management, comprehensive financial planning, discretionary and non-discretionary investment management, as well as retirement plan advisory support. Cresset also provides family office services, such as estate planning, tax strategy, philanthropic consulting and cash management. Additionally, they offer private fund management and tailored solutions for endowments, foundations and other specialized clients. Trust services and wrap fee programs are also available to certain clients.
Cresset Asset Management Investment Philosophy
Cresset Asset uses several analytical methods when conducting investment research. These include fundamental analysis, technical analysis, quantitative analysis, qualitative analysis, charting analysis, asset allocation, mutual fund and/or exchange-traded fund (ETF) analysis and alternative non-traded private investments.
The firm’s advisors also employ long-term purchases, short-term purchases, margin transactions and option writing. The firm may recommend exchage-traded securities, money market funds, separately managed accounts, corporate debt securities, hedge funds and private equity shares, municipal securities, among others.
Cresset Asset Management Fees
Fees for investment advisory services are based on the market value of managed assets with a minimum fee of $25,000. Rates will typically not exceed 2% of assets. Cresset Asset offers clients the choice of paying those fees either monthly or quarterly in advance or in arrears.
Advisory services for private funds and pooled investment vehicles entails a flat fee of 0.75% per annum. Similar to investment advisory services, Cresset Asset’s retirement plan advisory services charge management fees ranging up to 2%.
Cresset Asset Management Awards and Recognition
Cresset Asset Management was one of Barron's America's Best RIA Firms of 2024. Firm representatives were also recognized on Forbes’ 2022 Top Wealth Advisors and Top Women Wealth Advisors rankings.
What to Watch Out For
Cresset Asset Management doesn’t have any disclosures on its SEC record.
Opening an Account with Cresset Asset Management
You can set up an account with Cresset Asset by visiting the firm or calling an advisor at (312) 429-2400.
All information is accurate as of the writing of this article.
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