Cresset unveils deal for 130-year-old family office Connable

Founded in the late 1800s as a single-family office, The Connable Office boasts a rich legacy of serving multi-generational families, including its founding family, for seven generations. Known for its stability and personalized service, the firm operates as a private trust, emphasizing long-term client relationships. Eric Becker, co-founder and co-chairman of Cresset, stated, “Cresset and Connable together are an outstanding cultural fit. We merge a firm with a 100+ year legacy and one that is built for the next century.” This acquisition brings Connable's experienced team—led by Loyal Eldridge III, Kenneth Larason, James Melvin, and Bradley Weller—into Cresset’s fold, enhancing its family office services, investment expertise, and trust administration. Connable clients will gain access to Cresset’s comprehensive suite of services, which includes private investment programs, family governance and education, risk management, and concierge services. James Melvin, CEO of Connable, expressed enthusiasm for the partnership, noting, “We are excited to join the Cresset team and continue providing our client families with exceptional services for another 130+ years. Both firms share a client-first mentality and a holistic, team-based approach to service.” The acquisition reflects a shared commitment to delivering personalized, high-touch solutions akin to those offered by the largest endowments and single-family offices in the country. “Both Cresset and Connable have built the firms we wanted for our own families, and we are honored to extend that to other successful families,” Becker added. This latest acquisition follows Cresset’s April acquisition of two JPMorgan teams in San Francisco, which managed approximately $5 billion in client assets.