Salient Private Client offers a comprehensive and holistic approach to wealth management for individuals, families and foundations.
|Stephen Reckling & Stephen Strake co-found Pinnacle Management & Trust, Co.||
|Executives form Salient Partners, L.P. and begin to offer private client family office services|
|Salient launches endowment-style fund of funds||
|Pinnacle Management & Trust, Co. is rebranded as Salient Trust Co., LTA|
|Salient begins relationship with institutional partner, Summit Partners, L.P.|
|Salient acquires RDG Capital, LLC
Salient completes first IPO on exchange-traded closed-end fund focused on Master Limited Partnerships (MLPs)
|Salient Insurance Agency, LLC is formed|
|Salient launches mutual fund platform with two funds|
|Salient acquires Teton Strategic Investments, Inc.
W. Ben Hunt, Ph.D., author of Epsilon Theory, joins Salient
|Salient acquires Forward Management, LLC|
|Salient Private Client launches new website||
John Blaisdell, Andrew Linbeck, Jeremy Radcliffe and Haag Sherman partnered in 2002 to form Salient and provide their long-standing family clients with a Houston-based, independent wealth management solution.
Through a strategic transaction with Houston-based financial services firm Sanders Morris Harris Group (“SMHG”) in 2004, Salient acquired Pinnacle Management & Trust, Co., which was founded in 1994 by Andrew’s longtime friends and fellow multi-generational Houstonians, Stephen Reckling and Stephen Strake. The trust company was later re-branded Salient Trust Co., LTA.
In 2008, Salient exited the partnership with SMHG and in 2010, took on a new strategic partner: Boston-based private equity firm, Summit Partners.
In early 2011, Salient closed on the acquisition of RDG Capital, LLC (“RDG”), a registered investment advisor managed by Greg Reid, Cole Dawson and Ted Gardner. RDG fit squarely into Salient’s business with private clients and a strong track record of assets since late 2005 in the MLP sector.
In 2013, Salient acquired Houston-based Teton Strategic Investments, Inc., to offer selective private equity opportunities to high-net-worth clients. Michael Mithoff founded the firm in 2006 to manage his family’s investment office as well as advise a number of other families in connection with portfolio allocation and management, with a particular emphasis on alternative investment strategies.
Dr. Ben Hunt, author of Epsilon Theory, joined Salient in 2013. Epsilon Theory is commentary that examines markets through the lenses of game theory and history. Today, the newsletter is read by over 100,000 professional investors and allocators, and is regularly featured on financial websites and quoted in mainstream print and television media. Dr. Hunt hosts the popular Epsilon Theory podcast and contributes to several investment publications.
In June 2015, Salient acquired San Francisco-based Forward Management, LLC (“Forward”). Founded in in 1998, Forward was the investment advisor to the Forward Funds, a family of mutual funds that include alternative strategies, asset allocation, core and specialty asset class portfolios as well as a range of separately managed accounts.
Today, Salient Private Client manages over $3.9 billion for more than 100 families.1
1As of December 31, 2016
We are the client.
Salient’s founding partners include members of some of Houston’s most distinguished families, and we bring to bear our personal understanding of the services that these families require on behalf of each of our clients every day.
At Salient, we recognize that one size does not fit all. Each family’s needs, goals and passions are unique, so we developed our service offering to be customizable. When we build portfolios for our clients, we focus on the following:
As faithful stewards of our clients’ financial resources, our mission is to compound their capital with unparalleled service and investment strategies that challenge common practice with uncommon insight.
We are committed to true diversity of perspectives and ideas, and that requires honesty, empathy and accountability. We speak the truth freely and wholeheartedly to each other and to our clients.
We have an insatiable intellectual curiosity that manifests itself in creative problem-solving and portfolio construction. We challenge conventional wisdom and strive to continuously learn. Our collective knowledge and experience are shared with each other and our clients in memorable and rewarding experiences.
We are grateful for the opportunity to work together in service of our clients, and we treat that responsibility with profound respect. We are also supportive of our local communities, and we serve them selflessly with time, money and effort.
We hold ourselves to high standards, and we constantly evaluate and seek to improve the quality and the impact of our work. Personal genius, hard work and independent initiative are encouraged, celebrated and rewarded.