The Modern Family Office: Cresset’s CEO & Head of AI on Building for the Future
Wealth professionals interested in the multi-family office model can hear how one firm describes the challenge of scaling complex family services without losing human advice. The discussion also touches on AI, data, culture, ownership and talent as operating issues for a growing advisory organization.
Summary
By the family offices deskCresset CEO Susie Cranston and Head of AI Strategy Kelly Wagman discuss the modern multi-family office and how AI might help scale customized advice while preserving human relationships. The episode covers Cresset's growth into a national wealth management and family office firm, its family office services buildout, and its use of AI, integrated data and firm-specific tools to give advisors leverage. Cranston also draws on lessons from First Republic, including client-first culture, empowered advisors and balance-sheet strength.
- Cresset has grown to more than $250B in assets under management and advisement and more than 700 professionals.
- About 150 professionals are dedicated to family office services, supporting needs that can include investments, estate planning, governance, tax strategy, bill pay, household management and security.
- Cresset's AI strategy focuses on integrated data and firm-specific tools intended to give advisors greater leverage.
- Cranston cites First Republic lessons around client-first culture, empowered advisors and balance-sheet strength.
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