Two prominent independent wealth management firms have added senior talent to serve ultra-high-net-worth clients. Cresset, a multi-family office and private investment firm, has named Mark Ostroff as managing director and wealth advisor in its New York office. Separately, Callan Family Office has appointed George Burnette as director of philanthropic consulting and wealth, based in Philadelphia.
Ostroff brings 35 years of experience in financial services, including roles at Goldman Sachs, Morgan Stanley, and Kidder Peabody, where he led the Asian investment banking office in Hong Kong. He most recently served as managing director at Evoke Advisors, which was acquired by MAI Capital in 2024 in a merger that created a firm with $60 billion in assets under management. Earlier in his career, Ostroff founded and sold multiple asset management businesses, including Graystone Partners, focusing on manager selection and direct investments.
At Cresset, Ostroff will focus on building relationships with ultra-high-net-worth individuals, family offices, entrepreneurs, and privately held business owners. Paul Tramontano, executive managing director at Cresset, said Ostroff's deep experience and extensive network will help the firm expand its presence in the New York market. Cresset has been actively recruiting senior talent from large institutions, including the recent hires of MeMe McNairy-Glenn as managing director of National Strategic Growth and Mark Thompson as executive managing director of Institutional Consulting.
Callan Family Office, which serves ultra-high-net-worth families, family offices, foundations, and endowments, has hired George Burnette to advise clients on the intersection of philanthropy, wealth strategy, and long-term legacy planning. Burnette will also work with nonprofit organizations on governance, planned giving, and fiscal stewardship. He joins from First Citizens Bank & Trust, where he was vice president and philanthropic strategist and helped build the bank's national charitable advisory platform.
Burnette's background spans legal, financial services, and nonprofit advisory roles, a combination increasingly valued as wealthy clients seek to integrate giving strategies with broader estate and tax planning. Amy Jucoski, chief family officer and founding partner of Callan Family Office, said Burnette's expertise will deepen the firm's capabilities and deliver more integrated guidance to families and organizations.
The hires come as the wealth management industry sees a growing focus on holistic services for ultra-high-net-worth clients, including philanthropic consulting and legacy planning. A recent UBS report highlighted that $83 trillion in wealth transfer is reshaping heirs' roles and advisor strategies, making such services increasingly important. Additionally, Morgan Stanley found that wealth events are driving family offices toward more institutional governance structures.
Cresset, founded in 2017, has grown rapidly through both organic expansion and acquisitions, building a reputation as a trusted partner for family offices and UHNW investors. The firm offers a range of services, including investment management, tax planning, and estate planning. Callan Family Office, part of the Callan group, provides similar services with a focus on family governance and philanthropy.
Both appointments reflect a broader trend among independent wealth management firms to strengthen senior leadership as they compete with larger institutions for top talent and client relationships. The moves also underscore the growing importance of specialized services, such as philanthropic consulting, in serving the complex needs of ultra-high-net-worth families.
