Harrison Berkman Claypool & Guard Unite with Coldstream for Expansion in Financial Services

Coldstream Wealth Management Expands with New Merger

In a significant move that highlights the growing landscape of financial services in the Pacific Northwest, Coldstream Wealth Management has announced a strategic partnership with two Seattle-based financial firms, Harrison Berkman Claypool & Guard (HBCG) and HBC Financial Services (HBC). This merger, revealed on January 9, 2025, will collectively enhance Coldstream's assets under advisement to an impressive total of $11.1 billion.

HBCG is recognized as a full-service accounting entity, while HBC serves as a Registered Investment Advisor (RIA)—a combination that will not only expand Coldstream’s financial services offerings but also provide enhanced tax consulting resources. HBCG was originally established in 1977, with its sister firm, HBC, being formed in 2001. The leadership spearheading this integration comes from James B. Claypool, a seasoned CPA, MBA, and Personal Financial Specialist (PFS).

Kevin Fitzwilson, Coldstream's Managing Shareholder, expressed enthusiasm about the merger, highlighting how the values and service ethics of HBCG and HBC align seamlessly with Coldstream’s mission. He noted that this partnership would bolster the quality of service provided to clients through increased resources and enhanced access to investment opportunities.

The consulting landscape is poised to change drastically for the firm's clients. HBCG consists of a proficient team comprising six professionals, four of whom hold Certified Public Accountant (CPA) designations. Their expertise spans a wide range of financial services, including traditional tax preparation, estate planning, business succession planning, and sophisticated investment strategies like stock option planning. By functioning as affiliates of Coldstream, HBCG will integrate its existing services into a broader portfolio with greater depth.

As the financial industry evolves, Coldstream positions itself at the forefront by leveraging advanced technology solutions designed to optimize client engagement and provide timely insights. Jim Claypool emphasized the exciting potential that this merger brings, stating that the nuanced capabilities and combined resources will allow for a superior level of comprehensive service to their valued clients.

Furthermore, this merger reflects a broader initiative within Coldstream to cultivate a robust talent pipeline. Emphasizing the importance of nurturing emerging professionals, the company has committed to providing extensive opportunities for career development, including greater access to equity ownership within the firm.

This merger isn’t Coldstream's first foray into expanding its financial empire in the region; in July 2024, it merged with Arnerich Massena, a highly regarded investment advisory firm based in Portland, Oregon, which manages around $2 billion in client assets. Prior to that, in the fall of 2023, Coldstream successfully merged with Hersman, Serles, Almond LLC (HSA), a tax consulting entity, and Seidman Capital Group (SCG), a wealth management firm. These integrations serve to fortify Coldstream's commitment to delivering specialized financial services to a diverse clientele.

About Coldstream: Founded in 1996 in Bellevue, Washington, Coldstream emerged with the singular mission to enhance clients' lives through comprehensive financial solutions. As an employee-owned and independently operated firm, it is dedicated to earning the trust of its clients and providing peace of mind. Currently, Coldstream has grown to encompass seven offices across four states, marking a significant footprint in the Pacific Northwest financial landscape. More information can be found on their website.

In summary, the merger of HBCG and HBC with Coldstream heralds a new chapter in financial services, aligning best practices and innovative solutions to elevate the client experience in an evolving market.