SEATTLE–(BUSINESS WIRE) – Parcion Private Wealth, a Seattle area wealth management firm focused on helping business owners and entrepreneurs manage wealth events, announced today that it has broken the US 1.5 billion mark in 15 months of its inception -Dollars on assets under management has exceeded.
As Parcion continues to grow to meet customer needs, the company continues to attract consultants, planners and support professionals to the top of the competitive talent pool in the Pacific Northwest.
“While it is remarkable to hit the $ 1.5 billion mark so quickly, we do not strive to become a large company for the sake of size,” said Terry Cook, CFP®, CIMA®, Founder and CEO from Parcion. “Rather, our unique focus is on continuing to develop world-class business owner services, many of whom are planning major asset events such as the sale of a business.”
Kyle Anderson, a Parcion customer and co-founder of high-end coffee grinder company Baratza, noted that Parcion’s rapid rise proves that such services were lacking in the market and there was a significant need. “When I first started planning to sell my business, I knew I needed a team that was significantly different from a general wealth management company,” said Anderson. “Parcion was instrumental in identifying a number of actions and steps that have helped me make the most of the Baratza sale, which I now know would not have otherwise been approached. I shudder when I think about where I would be if I didn’t have the guidance and wise advice from Terry and his team. ”
Cook added that he and his UBS veteran, Kyle Caouette, have worked with business owners and entrepreneurs for years but have been constrained by a pre-built approach to customer support. “Our decision to create Parcion was based on the knowledge that entrepreneurs and entrepreneurs would see value in working with independent lawyers who could use a much wider range of approaches.”
“As Terry announced in our most recent interview, he founded Parcion to help business owners manage wealth events in ways he could not do in a wirehouse,” said Mindy Diamond, CEO of financial advisor recruitment agency Diamond Consultants and host of the popular Mindy Diamond podcast series about independence. “I believe Parcion’s success shows that companies need to care about the holistic financial health of their customers.”
Parcion Private Wealth typically begins working with business owners and entrepreneurs two to three years before an asset event, and works with a handpicked team of multidisciplinary experts to leverage resources that best suit each client’s individual needs and goals.
According to the annual ranking of wealth management companies by the Puget Sound Business Journal, Parcion is one of the largest wealth advisors in the US state of Washington at 1.5 billion US dollars, even though Parcion has clients in the USA
“Part of our approach is to bring our client’s existing teams – lawyers, accountants, and other related professions – together and create a plan that takes the client’s holistic wellbeing into account,” said Cook. “We have found savvy business people to see the value of building purpose-built teams to guide decision-making around the asset event and next steps.”
To learn more about Parcion Private Wealth, please visit www.parcionpw.com.
About Parcion Private Wealth
Parcion Private Wealth is an independent multi-family office that works with entrepreneurs, business owners and their families to optimize wealth events and beyond through smart planning, strong advocacy and prudent investment management. Parcion’s experienced team helps clients preserve the legacy they have built to support their families and communities. Learn more at www.parcionpw.com.