The Colorado-based independent wealth management firm Crestone Capital Advisors has appointed Michael Sherman as president of the firm.

In his new role, Sherman will be accountable for the implementation and execution of the firm's business plans, and will report to Eric Kramer, the chief executive officer of Crestone. Sherman was already a principal of Crestone, and has been part of the firm’s investment committee since 2002.

In previous developments at the firm, in May Jennifer Hardy was appointed as chief compliance officer. Earlier in the year, Randi Grassgreen, who joined the firm in 2008, became part of its ownership group, and hedge fund senior manager Adam Whitehead joined as an investment analyst.

Crestone Capital Advisors, through its registered affiliates, offers investment management and wealth advisory services to high net worth clients.