Laird Norton acquisition helps secure family’s long-term mission
In early December 2020, the Laird Norton family took a major step to secure its long-term mission to serve multiple generations of families by acquiring Filament, a Seattle-based wealth management firm. Speaking on behalf of the Laird Norton Company board of directors, chair Debbie Brown says, “Throughout its 165-year history, our seventh-generation family has worked to stay together, invest together and sustain a business enterprise for the benefit of its present and future generations. The addition of Filament strengthens and sustains that objective by expanding our services to family members and clients.”
Laird Norton Wealth Management (LNWM) was founded in 1967 to support Laird Norton family members with financial advisory services and investments. In the early years, it served only Laird Norton family members. However, as the firm and its reputation grew, the financial advisory services were extended to other family clients from the broader community.
“A major objective was to build and sustain a top-of-class advisory service that would span generations of families,” Brown says. “Acquiring Filament and integrating its skills and services makes LNWM stronger and more durable than ever. The result will be better for our clients.”
Filament brings robust private and alternative investment options to complement LNWM’s capabilities. The Filament team also brings additional expertise in wealth advisory services, including business and executive consulting, philanthropic advising, and wealth transfer and tax support.
Founded in 2006, Filament had established itself as a pre-eminent, boutique wealth adviser to families of significant wealth. It currently serves approximately 100 client families. The newly combined firm will retain the Laird Norton Wealth Management name along with its status as a subsidiary of Laird Norton Company.
Kristen Bauer will continue as CEO of the firm, overseeing approximately $6 billion in assets under management. The three founders of Filament, Scott Butterfield, Conrad Gehrmann and John Goodwin, will assume executive management roles at LNWM and join its board of directors.
Financial details associated with the merger were not disclosed.