The shared objective: “Better for our clients”
Seattle (December 2, 2020) Two of the Pacific Northwest’s largest privately held wealth management firms, Laird Norton Wealth Management and Filament, have merged, Kristen Bauer, CEO of Laird Norton Wealth Management (LNWM) announced today. The two firms have a combined 67 years of service to individuals, families, foundations, and businesses. LNWM was founded in 1967, Filament in 2006. The newly merged firm will retain the Laird Norton name and manage $6 billion in client assets. LNWM is a subsidiary of seventh-generation family-owned Laird Norton Company.
Bauer, who has spent more than 20 years building multi-generational relationships with some of the country’s most dynamic families including the Northwest’s legendary Russell Family, will serve as CEO. Filament’s three co-founders and senior leaders, Scott Butterfield, Conrad Gehrmann and John Goodwin will serve on an expanded LNWM Board of Directors and in executive management roles.
“Filament is a company to be admired. They have built an incredible firm with deep and lasting client relationships. Our organizations have similar DNA for providing holistic, conflict-free advice.” Bauer said. “We will integrate in a way that will be better for our clients by building on the best attributes of both companies, positioning the firm as a life-long, multi-generational resource and partner.”
Filament has combined the benefits of an entrepreneurial boutique with the long-term vision and resource commitment of much more sizeable firms.
“From inception, we designed our business to fully align our interests with those of our clients,” Butterfield said. “Combining Filament’s talents and resources with those of Laird Norton Wealth Management provides an unprecedented opportunity for growth, but more importantly it provides a unique platform of services and solutions unrivaled in the Pacific Northwest. I believe the future is very bright for the durable, multi-generational firm we have created.”
The merger was effective December 1. The combined company will serve clients throughout the western United States and beyond. The range of advisory services encompasses sophisticated investment advice, including private placement, alternative and impact investing solutions; trust services, multi-generational estate planning and philanthropy advising; family business and real estate advisory services; and financial and tax planning. In addition, the firm provides robust educational programming to help clients fully utilize their financial, social and intellectual capital. The merged firm will be located at LNWM’s current headquarters in the Norton Building at Second and Columbia in Seattle.
“When it comes to a partner, Laird Norton Wealth Management checked all of the boxes for us,” Gehrmann said. “An independent, fee-only, fiduciary advisor, the company is staffed and led by skilled advisors with deep industry experience and a passion for putting clients first.”.
Reflecting on the process that led to the merger, Goodwin remarked, “The enthusiastic support of our clients to this merger has been extraordinarily gratifying. Their loyalty and trust in us illuminates the quality of our team’s work and the enduring client relationships we’ve been fortunate to form since our founding.”
Jeff Vincent, CEO of Laird Norton Company and chairman of the LNWM Board of Directors called the merger the “next step in the evolution of LNWM to become the most dependable, premier wealth management firm for generations of families throughout the West and beyond.”
Financial details associated with the merger were not disclosed.
From its founding in 2006, Filament has established itself as a preeminent boutique wealth advisor offering family office and investment advisory services specially designed for families of significant wealth. Independence, illumination and innovation have been the hallmarks of the firm’s efforts to help clients resolve financial complexity and enjoy life more fully. With a business rigorously designed to put client’s interests first, Filament has earned the role of trusted advisor to approximately 100 client families representing over $2B in assets under management.
With $6 billion in assets under management post-merger, Laird Norton Wealth Management is the Northwest’s premier wealth management and trust company. Originally founded to serve the financial management needs of the Laird and Norton families, the firm now provides investment management, wealth planning, family business advisement and trust services for individuals, families, private foundations and nonprofit organizations throughout the West. For more than 50 years, Laird Norton Wealth Management has been devoted to helping its clients and their families achieve security, find happiness and thrive in every aspect of their lives. LNWM is relentless in the pursuit of client satisfaction and is committed to making each client’s best interest its number one priority.
About Laird Norton Company:
Headquartered in Seattle, Laird Norton Company is a seventh-generation, family-owned enterprise with significant investments in real estate and operating companies. The values of the company and its owners inform the company’s approach to business. As a result, LNC seeks to be a leader concerning environmental sustainability and positive community involvement in its operations and those of its investments.
LNC is a patient investor, seeking true long-term partnerships that align with our values and focus on community efforts. LNC wholly owns Laird Norton Wealth Management (LNWM), a premier wealth management company, and Laird Norton Properties, a Seattle-based real estate investment firm.
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LNWM and Filament Press Release