Cresset Adds $1.4B Advisory Team in Houston  

Cresset Asset Management has added an advisory team from Bernstein Private Wealth Management, where they managed more than $1.4 billion in total assets. 

The team, based in Houston, Texas, is led by Michael Ellington, Zach Gardner, and Danique van der Velden and brings about three decades of combined experience to Cresset, according to the firm.  

The team provides a “holistic” approach to public and private investment management, estate and tax planning, and pre- and post-transaction planning to ultra-high-net-worth families, business owners and entrepreneurs. 

Following Cresset’s latest addition, Ellington will join as executive managing director, Gardner will serve as managing director and wealth advisor, and Van der Velden will serve as director and wealth advisor at Cresset, a company spokesperson confirmed to Connect Money. 

“Michael, Zach, and Danique have built distinguished careers providing entrepreneurs and ultra-high-net-worth families with a holistic and personalized family office experience,” Susie Cranston, president of Cresset, said. 

Recently, Cresset added an advisory team from Goldman Sachs, where they managed more than $1.8 billion in total assets. 

These additions come after Cresset completed its merger with Denver-based Monticello Associates, an investment consulting firm, which was originally announced in August. 

The merger, which was finalized in early October, is “proving to be an excellent cultural and strategic fit,” a spokesperson said. 

Cresset Asset Management, which oversees more than $71 billion in assets under management, was launched in 2017. The firm’s employees hold about 60% of its stock, while 30% is owned by its clients.

Pictured: Michael Ellington (Left), Danique van der Velden (Middle), and Zach Gardner (Right)