On May 25, 2022, Cresset Asset Management announced that it will merge with Meristem Family Wealth.
Under the terms of the transaction, Meristem Family Wealth, LLC (“Meristem”) will become part of Cresset Asset Management, LLC (“Cresset”). All 42 members of Meristem’s team will join Cresset upon completion of the deal. The transaction was expected to be completed by the end of June, pending regulatory approval. Further terms were not disclosed.
Meristem, based in Minnetonka, Minnesota, is an independent wealth management firm. Meristem provides a range of financial advisory services to individuals, families, and institutional clients. As of December 31, 2021, Meristem had approximately $5.4 billion in assets under management. The Asset & Wealth Management Investment Banking Group of Raymond James & Associates acted as the exclusive financial advisor to Meristem on the deal.
Cresset, based in Chicago, is a private wealth management firm. As of June 1, 2022, Cresset had approximately $27 billion in assets under management.
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