Dealflow | October 16, 2017

Tiedemann Wealth Management adds impact with acquisition of Threshold Group

The team at


The New York wealth advisor is touting Threshold’s impact investing bona fides.

“Impact was clearly the driver,” CEO Michael Tiedemann told ImpactAlpha. “On day one, it brings us a capability we didn’t have, a domain expertise we didn’t have.” The arrangement combines Tiedemann’s $12 billion in assets under management with Threshold’s $3 billion.

Threshold, founded by Seattle’s Russell family (of Russell 500 fame) has added impact investing talent in recent years; Stephanie Cohn Rupp, its managing director for impact, will head the practice at Tiedemann.

Mike Tiedemann said wealthy clients have been asking for more impact opportunities. The firm’s advisors at first ranged from open to cynical. As the discussions progressed, “People said, how can we do this better?” he said.

The acquisition is part of a continuing consolidation in the wealth management industry. “It’s tough to incubate impact credibility, so acquiring it makes sense,” said Matthew Weatherley-White, managing director of The Caprock Group, a wealth advisor with about $3 billion in assets.

“It remains to be seen whether Tiedemann can integrate that impact culture without diluting it or corroding it.”