Cresset Expands Into Boca Raton By Adding $4B Advisory Team

Cresset, a multifamily office and private investment firm with more than $260 billion in assets under management and advisement, has expanded into Boca Raton, Fla., after recruiting a 16-person advisory team of advisors who managed about $4 billion in client assets for UBS Financial Services.

Veteran advisors Michael Bober and Ed Ventrice joined their new firm today and lead a team that includes Michael MacDonald, William “Billy” Marino, Sarah Ponczek, and Alex Santos.

The team provides comprehensive wealth management, institutional consulting, business succession planning to corporate executives, business owners, high-net-worth individuals, multigenerational families, foundations and endowments, and professional athletes, according to a Cresset news release.

“We are thrilled to expand our presence in South Florida to Boca Raton,” Cresset CEO Susie Cranston said in the statement. “Michael, Ed, and team have deep and longstanding relationships throughout the Boca Raton community.”

Ventrice added, “We are also proud to continue serving the Boca Raton community we know so well and to build upon the relationships we have developed here over many years.”

The Cresset release noted that Ventrice and his partner Bober have been in the business for more than 30 years and both served as managing directors with UBS before jumping to Cresset.

Furthermore, before transitioning to wealth management, each worked as a certified public accountant with a national accounting firm.

“Their accounting backgrounds have helped shape the team’s integrated approach to wealth management and its focus on delivering coordinated advice across every aspect of a client’s financial life,” Cresset said in the release.

“Cresset’s family office approach closely aligns with how we have always believed wealth should be managed—with a comprehensive, long-term perspective that extends well beyond investment management,” Ventrice said in the release.

In its most recent recruitment win, Cresset said late last month that it beefed up its presence in Los Angeles and New York by luring a duo of advisors from Lazard Wealth where they oversaw $1 billion in assets under advisement.