Threshold Group Completes Acquisition of Assets with Ashbridge Investment Management

April 8, 2010

GIG HARBOR, WA./PHILADELPHA, PA – Threshold Group, a wealth management and family services firm headquartered in Gig Harbor, Washington, announced today that it has completed the purchase of assets from Ashbridge Investment Management, a Philadelphia-based family wealth management firm. The asset purchase adds to existing resources and services offered by Threshold Group – broadening full-service expertise and expanding the firm’s geographic reach. The close of the deal will increase Threshold Group assets under advisement from $1.6 billion to $2.3 billion with staff totals increasing from 34 to 44 people.

“After a lengthy period of due diligence, research and education, it is clear that the acquisition of Ashbridge, an organization that shares our core values and ethics, will only add to and enhance the depth of investment and family office services already provided to our clients,” said Ed Lazar, President of Threshold Group. “In looking at the future sustainability of Threshold, this acquisition represents an opportunity to continue our core strategy of gradual, organic and selective growth – pursuing only those client families with which we have been traditionally aligned.”

A select number of Ashbridge clients are being given the opportunity to become clients of Threshold Group, providing a near seamless transition for all clients of both companies. Client service teams will remain largely unchanged, unless requested by the client.

Ed Lazar will retain his position as President of Threshold Group, while Charles B. Grace, Jr., CEO and Chairman of Ashbridge, will be named to Threshold’s Board of Directors. Bill Knott, Senior Client Relationship Officer at Ashbridge will take over the role of Chief Relationship Officer of Threshold Group, responsible for the overall client experience of all the firm’s clients.

Full-service offices and staff will be maintained in both Philadelphia and Gig Harbor, Washington. The combined multi-client family office will continue to focus on comprehensive investment advisory services and an integrated range of family office services, including financial and tax planning, estate planning, budget and cash flow management, wealth education and family governance. Threshold Group’s office in New York City has been consolidated to Philadelphia while the firm’s office in Portland, Oregon will continue to operate as a client service site.

“We are thrilled about entering into this agreement with Threshold Group as it is not only the joining of two like-minded, independently founded, family-owned firms, but it also represents a great opportunity for Ashbridge clients to receive a broader range of family office services,” said Charles B. Grace, Jr. Chairman of Ashbridge. “As both firms have long been advocates of pure advisory, open-architecture models, this agreement essentially makes the new Threshold Group a powerhouse force in wealth management and family office services.”

Threshold Group will remain independent and 100% family-owned, with two families now holding ownership interest. The Russell family will retain majority ownership with the Grace family, owners of Ashbridge, taking an ownership stake, as well.

About Threshold Group
Threshold Group is a multi-client family office founded by George and Jane Russell to serve a select community of goal-oriented families. As an independent, family-owned firm, Threshold evaluates the needs of each client family to provide an appropriately customized investment and service plan. With a heritage based on the creation of Russell Investments (formerly Frank Russell Co.), the concept of open architecture and independent due diligence are foundational to Threshold’s culture. Services include global asset allocation; manager-of-manager selection and oversight; financial record-keeping and reporting; estate, tax and financial planning; bill paying ; insurance coordination; foundation management; family meetings; and wealth education. Threshold originated as a single-family office in 1999 and began working with additional families in 2004. Today, with its acquisition of Ashbridge Investment Management, the firm employs 44 associates in three offices, and advises on assets of $2.3 billion.
www.thresholdgroup.com

About Ashbridge
Ashbridge is a registered investment advisor and has served as the family office to five generations of the Grace family of Philadelphia. Industrialist Charles B. Grace, Sr. formed Ashbridge Corporation in 1958 to manage the wealth generated from the sale of the steel fabricator, Heintz Manufacturing Company, and the wealth passed on by Eugene G. Grace, Sr., long-time chairman of Bethlehem Steel. In 1981, the Grace family began delegating security selection to outside investment managers while retaining responsibility for investment policy, strategy and asset allocation. The Grace family became one of the first private families to advance the concept of open architecture investment management. This advisory approach led to the formation of Ashbridge Investment Management in 1992, which allowed the Grace family to share its wealth management expertise with other investors in the United States and abroad.
www.ashbridge.com