Parcion Private Wealth Hits $1.5 Billion in Assets Under Management 15 Months After Inception

February 8, 2021 6:29 PM EST

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Firm’s focus on helping business owners optimize wealth events fills underserved need

SEATTLE--(BUSINESS WIRE)-- Parcion Private Wealth, a Seattle-area wealth management firm focused on helping business owners and entrepreneurs manage wealth events, today announced it has surpassed the $1.5 billion assets-under-management mark within 15 months since its founding.

As Parcion steadily grows to meet client needs, the firm continues to attract advisors, planners and support staff at the top of the Pacific Northwest’s competitive talent pool.

“While reaching the $1.5 billion mark so quickly is notable, we do not aspire to become a big firm for the sake of size,” said Terry Cook, CFP®, CIMA®, Parcion founder and CEO. “Rather, our singular focus is to continue developing world-class services for business owners, many of whom are planning for significant wealth events such as the sale of a business.”

Kyle Anderson, a Parcion client and co-founder of the high-end coffee grinder company, Baratza, noted that Parcion’s rapid ascent proves that such services were lacking in the marketplace and there was a significant need. “When I began planning for the sale of my company, it was clear to me that I needed a team that was significantly different than a generalist wealth management firm,” Anderson said. “Parcion was instrumental in identifying a range of actions and steps that helped me make the most of the sale of Baratza that I now know, would have otherwise gone unaddressed. I shudder to think where I’d be if not for the guidance and wise counsel from Terry and his team.”

Cook added that while he and fellow UBS veteran Kyle Caouette have worked with business owners and entrepreneurs for years, they were constrained by a pre-defined approach to helping clients. “Our decision to start Parcion was the recognition that entrepreneurs and business owners would see value in working with independent advocates who could employ a much broader range of approaches.”

“As Terry shared in our recent conversation, he founded Parcion to serve business owners navigating wealth events in a way he was unable to do within the confines of a wirehouse,” said Mindy Diamond, CEO of financial advisor recruiters Diamond Consultants and host of the popular podcast series Mindy Diamond on Independence. “I believe Parcion’s success illustrates the need for firms to tend to clients’ holistic financial health.”

Parcion Private Wealth generally begins working with business owners and entrepreneurs two to three years before a wealth event, partnering with a hand-picked team of multidisciplinary experts to leverage resources that will best fit each client’s unique needs and goals.

Using the Puget Sound Business Journal’s annual ranking of wealth management firms, Parcion’s $1.5 billion places it as one of the larger wealth advisors in Washington state, although Parcion serves clients across the U.S.

“Part of our approach is bringing our client’s existing teams – attorneys, accountants and other allied professions – together and working to establish a plan that addresses the client’s holistic well-being,” Cook noted. “We have found that savvy businesspeople recognize the value of building purpose-driven teams to guide decision-making around the wealth event, and what comes next.”

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 partners 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 help clients preserve the legacy they’ve built to support their families and communities. Learn more at www.parcionpw.com.

Julia Irwin
julia@firmani.com

Source: Parcion Private Wealth



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