Cresset Adds $2 Billion Ultra-High-Net-Worth Advisory Team in San Francisco Expansion — Cresset Capital Management, LLC

Event summary

Heather Pelant joins Cresset as Managing Director, Wealth Advisor after leading a $2 billion advisory team at Baker Street Advisors.
Pelant brings 25 years of experience in wealth management, including senior roles at BlackRock and Morgan Stanley.
Cresset's multi-family office model integrates investment advisory, private markets access, and family governance services.
Pelant co-founded Project Worth, an initiative focused on women's financial capabilities.

The big picture

Cresset's hire of Heather Pelant underscores the growing demand for integrated wealth management solutions among ultra-high-net-worth families. The move highlights a broader industry trend toward consolidating investment strategy, planning, and family office services under one platform. With $2 billion in assets under advisory transitioning to Cresset, the firm is positioning itself as a formidable player in the multi-family office space.

What we're watching

Talent Retention: Whether Cresset can sustain its client-first culture as it scales with high-profile hires.
Market Differentiation: How Cresset's integrated multi-family office model will compete against traditional wealth managers.
Client Acquisition: The pace at which Cresset can attract ultra-high-net-worth families seeking coordinated financial services.