Coldstream Merges With Affiliated Advisory And Tax Services Firms

Addition Of Seidman Capital Group And Hersman Serles Almond Adds $250 Million In Assets And Expands Coldstream’s Presence In Pacific Northwest

Chris Latham, Managing Editor, Wealth Solutions Report

Bellevue, Washington-based Coldstream Wealth Management announced its merger with Seidman Capital Group (SCG), a wealth management firm, and Hersman Serles Almond (HSA), an affiliated business that provides accounting and consulting services. SCG and HSA are based in Kirkland, Washington.

The deals expand Coldstream’s Pacific Northwest footprint, where Coldstream already has multiple locations. SCG and HSA were co-founded by Victoria Serles, a CPA with over 40 years of financial services experience. She serves as a Partner at SCG and is HSA’s Managing Partner.

Victoria Serles, Co-Founder & Partner, SCG, Co-Founder & Managing Partner, HSA

“Merging with Coldstream comes at the ideal phase of our respective businesses,” Serles said. “The firm understands how we operate, the value-add that sophisticated tax services can bring to wealth management clients and how a truly comprehensive financial services company can stand out as a destination of choice for top talent who continually seek new challenges in order to grow throughout their careers.”

SCG, which was founded in 2004, has five advisors and three support staffers overseeing $250 million in assets under management (AUM). The firm provides comprehensive financial, investment and insurance planning services, as well as fiduciary oversight for employer-sponsored retirement plans and asset protection strategies.

HSA, founded in 1980, has long maintained a mutual referral relationship with Coldstream. The sister business to SCG provides bespoke income tax services and several tax-efficient services, such as trust and estate planning for high net worth households, and succession planning and valuations for businesses. HSA has 17 financial professionals, including six partners.

Kevin Fitzwilson, Managing Shareholder, Coldstream Wealth Management

“Vicki’s superb track record of founding and then continually evolving wealth management and accounting businesses was one of many clear signs that SCG and HSA would be a great fit for Coldstream,” said Kevin Fitzwilson, Coldstream’s Managing Shareholder. “Combining our firms brings us one step closer to our vision of creating a world class, independent firm of the future; one that provides multiple career path choice for our employees, and broader in-house resources for tax, trust, estate and retirement plan capabilities.”

Coldstream is an employee-owned firm with seven locations across four states. In May, Coldstream announced the appointment of former RIA consultancy CEO and seasoned operations leader Matt Sonnen as Chief Operating Officer.

Last year, Coldstream announced a merger with Kenai, Alaska-based LWM Wealth Management, which had approximately $170 million in AUM at the time of the deal. In 2021, Coldstream announced a merger with Portland, Ore.-based Rosenbaum Financial, which had approximately $463 million in AUM.

Chris Latham, Managing Editor at Wealth Solutions Report, can be reached at clatham@wealthsolutionsreport.com

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