By Kenneth Corbin
Baker Tilly, a large, national accounting firm, is spinning out its wealth management unit as an independent registered investment advisory firm with $5.8 billion in assets under management. Moss Adams Wealth Advisors, a division of Moss Adams, which joined Baker Tilly in a merger announced last April, is rebranding as Threadline Wealth for its launch as a stand-alone advisory firm, a move backed by the private equity shop Cynosure.
Once the transaction closes, Threadline will operate as an independent entity based on the West Coast, where it aims to grow into a "a consciously scaled regional boutique," the firm says.
Spinning out the wealth operation will establish Threadline as the latest large, PE-backed RIA looking to expand its footprint and gain market share. The firm will operate out of offices throughout the West Coast, with hubs in Los Angeles, Portland, Ore., San Francisco, and Seattle. The transaction taking Threadline independent is expected to close in May.
"For more than 25 years, our team has lived at the intersection of wealth management and accounting, helping clients navigate increasing complexity as their businesses, families, and opportunities grow," says Threadline CEO Justin Fisher, who currently serves as a partner and leader of Moss Adams' private client group. "This next phase allows us to sharpen that focus."
Threadline has a staff of about 60, roughly evenly split between advisors and support staffers.
Threadline expects to use Cynosure's investment to expand its financial planning capabilities, upgrade its technology, and develop new specialized services for its clients.
A Baker Tilly representative says that Threadline could use some of its funding for outside acquisitions in time, but for the near term the focus is on leaning on Threadneedle's strengths to grow the firm's client base. "Organic growth through accounting and collaboration has been -- and remains -- the primary growth strategy."
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 20, 2026 14:54 ET (18:54 GMT)
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