- One of the top independent investment advisors is growing its reach, having just opened a new office in the greater Chicago area
- Robertson Stephens Wealth Management recently acquired CAFG Private Wealth, a registered investment advisor managing over US$240 million in assets
- This marks Robertson Stephens fifth acquisition of the year and the first in the greater Chicago
- The firm underwrote 74 initial public offerings (IPOs) with a combined value of US$5.5 billion between 1999 and 2000
One of the top independent investment advisors is growing its reach, having just opened a new office in the greater Chicago area.
Robertson Stephens Wealth Management recently acquired CAFG Private Wealth, a registered investment advisor managing over US$240 million in assets and specializing in comprehensive financial planning and tax preparation.
This marks Robertson Stephens fifth acquisition of the year and the first in the greater Chicago area. The firm has now surpassed US$7 billion in assets across 24 locations.
CAFG Private Wealth’s founder, Tom Chernesky, joins Robertson Stephens as a principal managing director, with his colleagues.
“Since we started CAFG Private Wealth, our goal has always been to provide our clients with the personal level of service and attention of a smaller firm along with the wealth management resources, expertise, and investment advisory services of the largest of firms,” he said in a news release. “We believe this merger with Robertson Stephens allows us to stay at the forefront of technology, open new investment opportunities to our clients, and deliver the best possible wealth solution tailored to our clients’ needs.”
30 years ago, Robertson Stephens Wealth Management started business. Established as Robertson Stephens & Company, a boutique investment bank, it gained prominence in the technology sector during the internet boom of the late 1990s. The firm underwrote 74 initial public offerings (IPOs) with a combined value of US$5.5 billion between 1999 and 2000. It closed for several years and was reborn as the business seen today.
Note the reference to Nintendo’s (OTC:NTDOY) “resurgence” in 1994. In retrospect, it wouldn’t even be a blip in its overall business history. Though given Nintendo’s year-end 2024 compared to three decades ago, it looks like the home of Mario has traded in its “triple espressos” for candy cane lates.
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(Top photo: Pictures drawn by my son after I asked him to draw me some stock charts.)
