Cresset, a multi-family office that is both client- and employee-owned, has announced an exciting partnership with Monticello Associates, an independent investment consulting firm known for its specialized advisory services. Founded by entrepreneurs for fellow entrepreneurs, Cresset aims to expand its institutional advisory capabilities through this collaboration, reinforcing its vision of building a firm that will endure for over 100 years, founded on principles of independence, innovation, and a client-first approach.
Monticello Associates, founded in 1992 by Grady Durham, is recognized for its highly specialized investment advisory services, which cater to 175 long-term client relationships. The firm is entirely employee-owned and, as of December 31, 2024, manages approximately $124 billion in non-discretionary assets under advisement (AUA). With its headquarters in Denver and additional offices in Cleveland, Boston, and Washington, D.C., Monticello has built a solid reputation in the investment consulting field, providing invaluable guidance to foundations, endowments, and family offices.
The partnership between Cresset and Monticello Associates will create a powerful entity in the investment landscape, collectively managing nearly $200 billion in assets. This scale will provide the firms with enhanced access to leading fund managers across both public and private markets, further enriching their service offerings and investment strategies. By joining forces, Cresset and Monticello Associates will leverage each other’s strengths to deliver more comprehensive and sophisticated investment advice to their clients.
Importantly, the collaboration is not just about scale; it is also about integrating expertise. The entire Monticello Associates team, comprising 58 skilled professionals, will join Cresset, bringing a wealth of knowledge and experience in investment consulting. This integration will enable Cresset to offer a broader range of services while maintaining a high level of personalized attention to its clients.
Cresset’s commitment to being a forward-thinking firm is reflected in this partnership, which aligns with its strategy to innovate and grow while emphasizing independence and client satisfaction. As the financial landscape continues to evolve, the partnership with Monticello Associates positions Cresset to remain at the forefront of investment advisory services, ensuring it meets the ever-changing needs of its clients. This partnership, expected to close later this year, marks a significant milestone in Cresset’s journey and reflects the firm’s commitment to creating a sustainable future for its clients and itself.
KEY QUOTES:
“We’re thrilled to join forces with the team at Monticello Associates, a firm we’ve long respected for its deep expertise and sterling reputation in institutional investment advisory. Our decades-long relationship with their leadership is rooted in shared values and a client-first mindset. Together, we’re creating a platform that not only expands access to premier investment opportunities across public and private markets but also strengthens our vision to build a 100-year firm dedicated to serving families and institutions with purpose, care, and innovation.”
Avy Stein, Founder and Co-Chairman of Cresset
“Cresset and Monticello Associates have always been known for our bespoke and boutique approach to client service. That will never change. But together, our combined scale will bring significant additional opportunities to our clients. Just as importantly, Cresset and Monticello Associates are a strong cultural fit in terms of values, investment philosophy, and long-term vision. We share a client-first mentality and are both proudly independent, entrepreneurial, and driven by innovation. We could not be more excited about what the future holds.”
Eric Becker, Founder and Co-Chairman of Cresset
“Monticello Associates was founded 33 years ago with a singular focus: to provide premier families and institutions with sophisticated investment advisory services. Our partnership with Cresset allows us to expand that commitment for generations to come. It ensures continuity for our clients, while enhancing our ability to meet their evolving needs. Together, we bring robust research capabilities, global investment access, and a shared culture rooted in independence, excellence, and long-term alignment. Our entire team is proud to join forces with a firm that reflects our values and vision.”
Grady Durham, Founder and Executive Chairman of Monticello Associates
