Cresset Asset Management has named Barbara Young as co-head of family office services. Before joining Cresset, Young was CEO, chief investment officer and founding principal of Cypress Wealth Advisors, which Cresset acquired in the spring of 2019.
CHICAGO–(BUSINESS WIRE)–Cresset Asset Management (“Cresset”) has announced that Barbara Young, Senior Managing Director, has been named Co-Head of Family Office Services, serving alongside Bill Rudnick.
“Barbara is a veteran private investor and trusted advisor who is highly involved across the broader family office and wealth management community. She is the ideal choice to help lead Family Office Services into the future,” said Avy Stein, Co-Founder and Co-Chairman of Cresset.
“I am thrilled to work alongside Barbara in leading Family Office Services. Her depth of experience and industry expertise will serve the team and Cresset’s clients very well,” added Rudnick, who serves as Senior Partner, General Counsel and Co-Head of Family Office Services for Cresset.
Cresset’s Family Office Services group is comprised of more than 20 professionals offering a comprehensive suite of services, including goals-based financial planning, family governance and education, banking and credit consultation, pre-transaction planning, and philanthropy planning. With Cresset’s recent acquisition of PagnatoKarp, those services have expanded to include concierge services, lifestyle management, and cybersecurity.
Cresset is a 21st century, multi-family office and wealth advisory firm that offers clients access to sophisticated wealth management capabilities. Since its founding less than three years ago, Cresset has grown to $9.8 billion in assets under management, making it one of the 25 largest RIAs in the nation.1
Before joining Cresset, Young was Chief Executive Officer, Chief Investment Officer, and Founding Principal of Cypress Wealth Advisors, which Cresset acquired in the spring of 2019. Prior to leading Cypress, Young was the founding President and Chief Executive Officer of Springcreek Corporation, a wealth advisory firm that provided full family office services to high-net-worth families.
Young is also very active within TIGER 21 and has served on the advisory boards of several venture, private equity, and real estate funds.
“The clients Cresset works with have complex family dynamics and financial lives that can benefit greatly from what we have to offer. I am honored to work alongside Bill in leading the incredibly talented team in Cresset’s Family Office Services group,” Young said. “Cresset is providing access to families who have historically been underserved and is offering them a truly comprehensive array of family office services that are designed to help them achieve their desired legacies.”
Private equity entrepreneurs Eric Becker and Avy Stein founded Cresset with a vision to reinvent wealth management and with a firm belief that clients deserve better. Cresset offers individuals and families access to a comprehensive suite of family office services, deeply personalized wealth management, investment advisory, planning and other services through Cresset Asset Management, an SEC registered investment adviser. Cresset Partners, Cresset’s private investing group, offers clients direct access to real estate, private equity, and other investment opportunities. Together with Diversified Real Estate Capital, led by Larry Levy, Cresset Partners created a joint venture partnership focused on core real estate development investments in Qualified Opportunity Zones (QOZs). Cresset-Diversified recently announced the launch of its second fund, Cresset-Diversified QOZ Fund II, which targets Opportunity Zone projects with the potential for substantial risk-adjusted, tax-advantaged returns.2 Learn more at https://cressetcapital.com.