One of the senior figures in the Cresset group has moved to another US wealth management group, creating a new division focused on family governance and related matters.

Tiedemann Advisors, the US wealth management firm, has appointed former Cresset Capital senior managing director Jill Shipley as head of family governance and education. 

Last week, FWR reported that Michael Cole, chief executive of Cresset Asset Management, had left that firm after a two-year stint.

Tiedemann said Shipley will oversee a new division focused on helping families, family enterprises, family offices and foundations to enhance communication, educate and prepare rising generations, strategically and proactively plan for transitions, and make effective shared decisions. 

“While all of our client families are unique, they typically have complex multigenerational family dynamics and share fears of mismanaging the transition of wealth to the next generations” Michael Tiedemann, CEO of Tiedemann Advisors, said.  

Shipley also served as managing director in the Institute for Family Culture at Abbot Downing, and as director of next generation education at GenSpring Family Offices.

Founded in 1999, Tiedemann has nine offices across the US and oversees about $22 billion in assets under advisement with over $2.8 billion in impact investments.

Her hire highlights how family governance is a growth point in the North American wealth sector. For example, in October last year, PKF O’Connor Davies, the US accounting, tax and advisory firm, launched Family Advisory Services, a new offering that advises private business owners, ultra-high net worth families, their family offices and the advisors that serve them.