Coldstream Purchases $500M AUA Seattle Advisory, Accounting Firms

Coldstream announced that it has acquired two related Seattle-based financial services firms, adding a combined $500M to the company’s assets under advisement.

Harrison Berkman Claypool & Guard (HBCG) is a six-member full-service accounting firm established in 1977 by James B. Claypool. The firm specializes in a broad spectrum of financial and tax related advisory services and in 2001 established an RIA, HBC Financial Services. 

Five of the HBCG team also work for HBC Financial, four of whom are advisors, according to its last Form ADV filing from February 2024. In that filing, HBC Financial reported managing $447M in client assets, $398M of which are for high-net-worth individuals. As a part of Coldstream, HBCG and HBC Financial employees will receive “broader access to equity ownership.”

Seattle-based Coldstream said the deal brings its total AUA to $11.1B and represents the latest step in its expansion in the Pacific Northwest, following its July 2024 combination with Portland, OR-based Arnerich Massena, which added $2B in client assets.