Coldstream, an employee-owned registered investment advisor based in Seattle, has added Cable Hill Partners, a Portland, Ore.-based firm with $2 billion in client assets.
Cable Hill was founded in 2014 by Partners David Christian and Brian Hefele. The firm offers investment advice to high-net-worth individuals, trusts, estates, charitable organizations and businesses. It also specializes in retirement plan services for institutional clients, which will “enhance” Coldstream’s advisement in that area, according to an announcement.
Cable Hill’s 29 employees, including 13 advisors, will become shareholders of Coldstream as part of the firm’s partnership agreement, helping to boost its total client assets to $13 billion.
Coldstream is among a dwindling number of large RIAs that are fully employee-owned and do not have external backing. Boston Private partially owned the firm before management decided to buy out the bank in 2011.
Coldstream operates as several firms under the umbrella of Coldstream Holdings. In January, it announced a merger with accounting firm Harrison Berkman Claypool & Guard and its RIA, HBC Financial Services.
In July 2024, Coldstream also added a $2 billion Portland-based RIA, Arnerich Massena, helping it nearly double in size in three years without any outside capital.
Cable Hill, which officially joined Coldstream on June 1, was represented by DeVoe & Company in the transaction.