People Moves

Robertson Stephens Passes Another Milestone

Editorial Staff July 10, 2024

Robertson Stephens Passes Another Milestone

The nationwide US wealth manager now has more than $6 billion in advisory assets following its latest acquisition.

Robertson Stephens Wealth Management has partnered with a $360 million wealth firm in the Pacific Northwest, Rain Capital. 

The firm now has more than $6 billion in advisory assets.

Rain Capital, an RIA, was founded by David Reichle and Ellen Kim. They are joining Robertson Stephens as managing directors and principals, along with colleagues Chris Abbruzzese, Jamie Iversen, Luz Garcia, and Wendy Maroun.

Robertson Stephens operates in 21 locations: San Francisco, Marin County, Menlo Park, Santa Rosa, Pasadena, San Ramon and Burlingame (California), New York (NY), Sun Valley and Boise (Idaho), Holmdel and Madison (New Jersey), Austin and Houston (Texas), Seattle (Washington), Denver and Colorado Springs (Colorado), Boston (Massachusetts), Jackson (Wyoming), Westport (Connecticut) and now Portland (Oregon).

Reichle’s portfolio management and advisory experience spans more than 25 years. At Rain Capital, he was the chief portfolio strategist and chief compliance officer. Before he co-founded the firm, he was a co-founder, CIO and president of Pacific Investment Advisors in Portland, Oregon.

Kim has worked in the financial sector for more than two decades. Prior to co-founding Rain Capital, she worked with both HNW and ultra-HNW clients.

In May this year, Robertson Stephens added Colorado-based Three Points Financial, an RIA with $118 million in advisory assets, to its business.

In January 2023, Family Wealth Report asked Raj Bhattacharyya, chief executive of the firm, about its growth strategy on both the inorganic and organic side.

“M&A plays an important role in our overall growth strategy as does organic growth; however, we don’t believe in aggregation for aggregation’s sake. When we are looking to merge with another firm, we want to ensure that our clients benefit from the transaction. I believe that M&A will continue to be resilient in 2023 because there are strong secular reasons for mergers,” Bhattacharyya said.

“However, buyers are becoming more selective, and valuations and deal structures may be different. For Robertson Stephens, philosophical alignment will continue to be a very important element for mergers. Advisors attracted to us believe that the components of a great client experience include a curated investment portfolio, a comprehensive wealth plan allowing the client to build a legacy, and intuitive technology under a fee-only, fiduciary standard. We continue to grow because we never lose sight of our values, and our advisors share a common goal of constantly evolving and providing world class client service,” he said.

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