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Virtually precisely two years after the merger of Laird Norton Asset Administration and Wetherby Asset Administration created a $15 billion registered funding advisory and belief firm, the agency has introduced all places of work below a single branded entity, Laird Norton Wetherby.
“We developed this new model in our purchasers’ pursuits and thru their eyes,” LNW CEO Kristen Bauer stated in a press release. “They wished the agency to symbolize a strategic partnership, individuals who understood their larger image, and could be lively advocates for his or her ambitions.”
Since January 2022, the corporations have been working below unique branding however all six places of work—earlier Wetherby areas in New York, Los Angeles and San Francisco and Laird places of work in Philadelphia, Seattle and Sioux Falls, S.D.—have all adopted the brand new nomenclature and signage.
In accordance with LNW, the model is supposed to symbolize a house, “a spot the place individuals can pursue their objectives, know they’re cared for and be surrounded by devoted specialists.”
“Our heat and skillful method to wealth planning, funding administration and belief and property companies stays in place, all with enhanced experience in household governance and legacy planning, belief administration, affect investing and extra,” the agency stated in a web site publish.
After opening two new places of work because the merger—Sioux Falls and Philadelphia—the mixed firm now manages nearer to $14 billion in property for round 1,100 purchasers, most of whom are ultra-wealthy people, in line with the agency and federal filings.
A agency spokesperson stated market fluctuation might be blamed for the drop in property, however famous that LNW has added 90 purchasers and $1 billion in internet new property ($459 million in 2022 and $540 million in 2023) whereas having fun with a shopper retention charge of 97%. Headcount has additionally elevated by 9% because the merger, bringing the agency to 192 staff after 48 new hires.
Partially employee-owned, LNW is principally owned by the Laird Norton Firm, which was based in 1855 and in addition owns Seattle-based Laird Norton Properties and the Laird Norton Household Basis.
LNW’s Chief Expertise Officer Trevor Hicks not too long ago spoke with WealthManagement.com relating to the challenges of marrying two tech stacks because the agency moved towards the unification, a course of that’s nonetheless underway.
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