Crestwood Advisors Expands Team by 25% During Pandemic, AUM Has Doubled in Two Years

Crestwood Advisors Expands Team by 25% During Pandemic, AUM Has Doubled in Two Years

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Boutique RIA firm experiences continued growth with additional hires in Darien and Boston offices, outlines future expansion goals

Boston, Mass. (April 12, 2021) – Crestwood Advisors (“Crestwood”), a boutique investment advisory and wealth management firm based in Boston, today announced it has eclipsed two key milestones in its strategic growth plan.

In two years’ time, Crestwood has more than doubled its assets under management. During the pandemic, the firm has also expanded its team by 25% to support growing client needs.

The newest team additions include Charles W. Tricomi Jr., Hillary Urbancic-Davis and Nathan Gore.

Charles W. Tricomi, Jr., CFA, CFP® | Charles joins Crestwood as a Portfolio Manager, working out of its Darien, Connecticut office. He brings CFA & CFP® designations as well as 7+ years of wealth management experience to his role.

Hillary Urbancic-Davis, CPWA® | Hillary joins Crestwood at its headquarters as a Client Advisor. She possesses 7 years of direct client engagement experience with high-net-worth families. She holds a CPWA designation and is pursuing a CIMA designation.

Nathan Gore | Nathan joins Crestwood at its headquarters as an in-house Technology Specialist. He is a Certified Salesforce Administrator and brings a vast technical background to his role at the firm.

Committed to holding itself to a standard of fiduciary excellence, these strategic additions will aid Crestwood in its mission of developing client strategies that seek to protect, preserve and grow wealth. Now equipped with a team of 41 financial planning and investment professionals across its three offices, Crestwood has hired eight people over the past year.

“We’re thrilled to see our team growing and thriving,” said Crestwood CEO/Managing Partner Michael Eckton. “As we continue stewarding the most advantageous financial solutions for our clients through the growth of our staff, we’re also setting our sights on market growth, with a focus on enhancing Crestwood’s footprint in the Connecticut region and across the New England region.”

In 2019, Crestwood merged with Westport-based Catamount Wealth Management and MacGuire, Cheswick & Tuttle Investment Counsel in Darien to expand its footprint into Connecticut and broaden its team.

The mergers have helped the firm grow to three offices that now manage approximately $4.17 billion in assets, as of March 31, on behalf of high-net-worth individuals and families. Two years ago, Crestwood had approximately $1.99 billion in assets under management.

Crestwood continues to experience increased client growth and greater demand for more holistic financial planning services and investment strategies, which could fuel additional staffing needs.

“We’re optimistic about the significant progress we’ve made over the past two years, and hope to continue in this direction by attracting talent organically and acquiring it,” Eckton said.

Crestwood’s executive team remains active in its recruiting efforts of wealth management professionals from New York to Maine, including financial planners and portfolio managers, to further enhance client support and achieve results that meet current and future objectives.

Crestwood Fosters Talent Expansion – From A Distance

Your Team

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Remote work success allows firm to continue along growth trajectory

Boston, Mass. (January 21, 2021) – Crestwood Advisors (“Crestwood”), a boutique investment and wealth management firm with offices in Massachusetts and Connecticut, today announced recent additions to its team of financial professionals and expansion plans for 2021.

Since switching to a remote work model in 2020, Crestwood has made five hires, including four at the end of the fourth quarter.

The latest team additions include:

“When the pandemic began, we weren’t sure how going virtual would impact team expansion, but we adapted quickly and it has worked in our favor as there has been a dramatic uptick in financial professionals who are looking for added flexibility, including remote work options,” said Crestwood CEO/Managing Partner Michael Eckton.

“Dynamic firms like Crestwood, who have embraced technology and the flexible work environment that will likely remain in place, may continue to have a competitive advantage in the recruitment and retention of employees,” Eckton added. “We’re thrilled to welcome our new teammates to add depth and expand client engagement in 2021.”

Increasing demands from high-net-worth individuals and families for comprehensive financial planning services and investment strategies has allowed Crestwood to continue growing. With its recent additions, the firm has surpassed 40 employees across three regional offices.

Crestwood leaders remain active in their remote recruiting efforts of wealth management professionals, including financial planners and portfolio managers to further enhance client support and achieve results that meet their current and future growth objectives.

 

About Crestwood Advisors
Crestwood Advisors is an independent, fee-only, wealth management firm with approximately $4 billion in assets under management. Founded in 2003, Crestwood Advisors provides investment management with financial planning strategies to help high-net-worth individuals and families identify and prioritize their goals and build sustainable wealth so that they may enjoy more financially secure and purposeful lives. For more information, please visit https://www.crestwoodadvisors.com.

Crestwood CEO Joins Lenny Zakim Fund Board of Directors

Crestwood CEO Joins Lenny Zakim Fund Board of Directors

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Eckton looks to help Boston-based grassroots organization advance mission with further involvement

Boston, Mass. (January 4, 2021) – Crestwood Advisors (“Crestwood”), a boutique investment and wealth management firm based in Boston, today announced that CEO and Managing Partner Michael Eckton has joined the Lenny Zakim Fund (“LZF”) board of directors.

Eckton will serve an initial three-year term on the board of the Boston-based nonprofit organization. Having supported the Lenny Zakim Fund on a personal level for more than a decade, Eckton asserts his involvement stemmed from his strong belief in the organization’s mission of achieving social, racial and economic justice for all.

Over the past 10 years, Eckton has served as a site visitor, bridge builder and volunteer on internal committees with LZF, including those tasked with allocating funds to grantees.

“For 25 years, the Lenny Zakim Fund has played a vital role in grant making to address the countless needs in our local communities, and I’m honored to play a small part in encouraging and highlighting the ongoing work being done by LZF and its leadership team,” Eckton said. “I’m committed to doing my part to uplift our grassroots community organizations who are forever challenged and especially struggling under the current circumstances.”

 Supporting the community is also a central part of Crestwood Advisors’ mission. Under Eckton’s leadership, the firm embraces the opportunity and responsibility to support the communities in which its team works and lives through leadership, volunteer or financial contributions.

“Joining the board of the Lenny Zakim Fund is a wonderful opportunity to help continue acknowledgment and support of social issues, and directly help disadvantaged populations,” Eckton said.

The Rise in Fraudulent Unemployment Claims

The Rise in Fraudulent Unemployment Claims

The COVID-19 pandemic has drastically changed many aspects of our lifestyles this year. The uniqueness of the pandemic has also created new avenues for scammers to launch sophisticated attacks against our personal information.  One of the most common scams that has been borne out of the COVID-19 pandemic is theft of an individual’s unemployment benefits. These falsified claims may present themselves in different ways. If you are self-employed or retired, you may receive a letter in the mail from your local Unemployment Agency outlining your unemployment benefits claim. If you are employed, your HR department will contact you if a claim is filed with them on your behalf.

To file an unemployment claim in your name, a scammer must have access to personal information, like your social security number and date of birth. Below, we have outlined steps that can be taken should you receive a notice of a fraudulent unemployment claim, proactive measures to better protect your identity against attempted fraud and actions that Crestwood takes to keep your data safe.

What to Do If a Fraudulent Unemployment Claim Has Been Filed on Your Behalf

  • Utilize the Department of Unemployment Assistance fraud contact form at https://www.mass.gov/info-details/report-unemployment-benefits-fraud or call the DUA customer service department at 877-626-6800.
    • If you are not a MA resident, contact your state unemployment agency either by phone or an online platform.
  • Alert your employer, your accountant, and your financial advisor, if applicable.
    • Each entity will take precautionary measures to safeguard your identity and your assets further.
  • Make a list of credit card companies, banks, and other financial institutions where you do business. Notify them that you are a potential victim of identity theft and ask them to put a fraud alert on your account.
  • Get a copy of your credit report by contacting the Federal Trade Commission either at https://identitytheft.gov/ or 877-ID-THEFT.
    • File a complaint with the FTC to ensure that any fraudulent transactions are disputed, fraudulent accounts in your name are closed, and to place an alert on your account.
  • Contact the 3 major credit bureaus and request a credit freeze.
    • Equifax: 800-349-9960 or online
    • Experian: 888 397 3742 or online
    • TransUnion: 888-909-8872 or online
  • File a police report with your local police department. Get a copy of the report that you can provide to creditors and credit agencies.
  • Update passwords to all entities that house potentially sensitive data.

Proactive Measures to Protect Your Identity Further

  • Change passwords on your email, banking, and other personal accounts more than once a year.
  • Use dual authentication, where available, and a password management tool to create and house strong, unique passwords.
  • Set up your My Social Security account.
  • Review your credit card, bank and investment statements in detail on a regular basis.

What Crestwood Advisors is Doing to Keep Your Data Safe

  • We employ dual authentication on our systems and with our custodians
  • We are committed to utilizing added layers of authentication such as verbal authorization prior to any 3rd party money movement.
  • We work diligently to protect your personal information through employee training and email encryption.
  • Should you fall victim to any instance of fraud, we will work with our custodians to freeze your account(s) to protect the assets.

 

If you have questions about fraudulent unemployment claims or believe you are a victim of identity theft, please do not hesitate to contact your team at Crestwood Advisors.

Crestwood Advisors Named to Barron’s List of Top 100 RIA Firms 2020

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Boston-based investment and wealth management firm adds to 2020 accolades for ongoing growth

Boston, Mass. (September 17, 2020) – Crestwood Advisors (“Crestwood”), a boutique investment and wealth management firm based in Boston, announced today it has been named to Barron’s 2020 list of the top 100 RIA firms in the United States.

The annual Barron’s RIA list recognizes the top independent wealth management firms from across the U.S. The rankings formula is based on a detailed questionnaire and several other factors, including technology spending, staff diversity and succession planning. To be considered for the list, firms are required to have at least $1 billion in assets under management.

“To be included on such a prestigious list is an honor for us at Crestwood. It’s a testament to the hard work and dedication our team continues to deliver to clients to help achieve their long-term financial goals,” said Michael Eckton, CEO and Managing Partner. “As we continue to operate in one of the most competitive RIA markets in the country, achieving recognition for our firm’s efforts is no small feat.”

Crestwood continues to receive industry accolades for its ongoing growth, having recently been named to the 2020 edition of the Financial Times 300 Top Registered Investment Advisers list. Financial Advisor Magazine also named Crestwood No. 11 on its list of the 2020 Top 50 Fastest-Growing Firms.

In 2019, Crestwood completed two mergers with Connecticut-based firms, combining first with MacGuire, Cheswick & Tuttle Investment Counsel LLC in Darien and later Catamount Management Group in Westport.

These mergers allowed Crestwood to expand its regional footprint and achieve robust, organic growth as a firm. Crestwood’s team has grown to nearly 40 professionals managing $3.7 billion in assets on behalf of high-net-worth individuals and families.

To read more on the methodology of the award please click here.

Please see Crestwood Advisors important disclosures regarding awards and recognition’s here.