Asset Management Tips

Local investment firm The Sienna Group will pay $40 million for a stake in Freestone Capital Management, a Seattle-based wealth and asset manager, the two companies said.

Freestone, which ranks among the 30 largest independent U.S. wealth-management firms, plans to add a second West Coast office and look at other expansion options.

It manages investments for individuals and families with liquid assets of $2 million to $100 million.

Freestone's management team and employees will remain. Founder Gary Furukawa will continue to own a significant stake in the firm and serve as its chairman and chief investment officer.

Costco

New call center slated for Yakima

Issaquah-based Costco Wholesale, the warehouse-club giant, will open a telephone call center in the former HouseValues building in Yakima, Costco CEO Jim Sinegal said Thursday. read more