As of October 2017, Tiedemann Wealth Management, a New York-based RIA with $12 billion in assets under advisement, is acquiring Threshold Group, a Seattle-based wealth-advisory firm and family office with $3.4 billion in assets under management that was founded by the Russell family.
Details of the transaction, expected to close in December, were not disclosed. The Russell family will assume an ownership stake in Tiedemann and will retain a relationship as a client. The combined firm will operate under the Tiedemann brand. The acquisition will add Seattle to firm offices in New York, San Francisco, Dallas, Palm Beach, Washington, D.C. and Wilmington, Delaware.
The Threshold Group was founded in 1998 by George and Jane Russell, after the sale of Russell Investments to Northwestern Mutual. That company was later sold to the parent of the London Stock Exchange, which spun off Russell Investment's asset management business in 2014.
Reflecting the Russell family's interest in impact investing, Threshold Group now directs $1.5 billion of its assets under management to impact investments that focus on companies, organizations and funds that generate measurable social and environmental benefit as well as financial return.
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