Cresset Adds $4 Billion UBS Team in Boca Raton Expansion — Cresset Capital Management, LLC

Event summary

Cresset expands to Boca Raton with a 16-person advisory team led by Michael Bober and Ed Ventrice, managing $4 billion in client assets previously at UBS.
The team includes experienced wealth managers specializing in comprehensive wealth management, institutional consulting, and business succession planning.
Cresset's open-architecture, multi-custodial model allows for highly customized solutions based on client needs.
The team has deep connections to the Boca Raton community, which Cresset aims to leverage for further growth.

The big picture

Cresset's expansion into Boca Raton with a seasoned UBS team underscores the ongoing talent migration in the wealth management sector. The move highlights Cresset's strategy to attract high-net-worth clients and families by offering a comprehensive, integrated approach to wealth management. This expansion also signals Cresset's ambition to compete more aggressively in the lucrative South Florida market, where deep local relationships are key to client acquisition and retention.

What we're watching

Client Retention: How Cresset will integrate and retain the $4 billion in client assets transitioning from UBS.
Market Penetration: Whether Cresset can leverage the team's Boca Raton connections to expand its client base in South Florida.
Competitive Dynamics: The pace at which Cresset can differentiate itself from UBS and other wealth management firms in the region.