Laird Norton acquisition helps secure family’s long-term mission

Photo 1: 

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.
 

Other Related Articles

  • And for our next act … a succession at Family Business Magazine

    When I first joined Family Business in the summer of 2000, I thought the main issues facing family companies were avoiding family arguments in the workplace, ensuring that NextGens earn their stripes,...

  • Utz merges into the public market

    It seemed as if wedding bells were about to ring.The love story circulating in 2015 was that the famed, folksy investor Warren Buffett was discussing a possible union with family-owned snack food comp...

  • Four paths to building a great business family

    It’s common knowledge that only a handful of business families continue beyond the third generation as a family with a shared enterprise. How can younger families prepare to join that exclusive club...

  • HBO's 'Succession' isn't just great TV

    Scene: In a gilded townhome several floors above New York’s Fifth Avenue, a family toasts its patriarch’s 80th birthday. Rather than bask in the warmth of his family’s love and respect, the patr...