Pathstone selected as New Jersey’s “50 Growers Across America” by Citywire RIA
“Backed by private equity firm Lovell Minnick Partners, Pathstone has become a serious player in the battle for ultra-high net worth clients in the Northeast. The company’s trajectory is somewhat akin to Cerity Partners, which is located just across the Hudson River in Manhattan: Both are former affiliates of the vast New York Private Bank & Trust/Emigrant Bank empire, which have become prolific acquirers since making deals with mid-market private equity firms.
Pathstone has bought a handful of RIAs – most notably snapping up a large chunk of Eaton Vance WaterOak Advisors – but has also eyed RIA-adjacent businesses that it says can help add to its UHNW practice. In May, the company revealed plans to acquire Advisor Partners, a $1.9bn direct indexing firm.
‘As we’re going to be this national boutique for the ultra-high net worth, we need to continue to enhance our services to offer our clients,’ Pathstone president Matt Fleissig recently told Citywire. ‘How do we tailor and customize portfolios for $100m families that meet their needs while having low fees and low taxes? The idea behind this deal, from an innovation standpoint, was to raise the table stakes in the RIA industry.’”
See full article here.
Third party rankings and recognition from ratings services are no guarantee of future investment success. Working with a highly rated adviser does not ensure that a client or prospective client will experience a higher level of performance or results. Ratings should not be considered an endorsement for the adviser by any client nor are they representative of any one client’s evaluation. Pathstone paid no application fee to participate. Click HERE for a full disclosure of the criteria of ranking and other important information.
Methodology:
Citywire looks at historical Form ADV data provided by Discovery Data and uses a series of filters and screens to remove firms that don’t do financial planning and/or are controlled by banks or broker-dealers and zero in on firms that are growing in terms of both assets and employees. Neither the firm nor its executives pay a fee to Citywire in exchange for the ranking. The award ranking provided is accurate as of July 28, 2022 and is based on historical Form ADV data from all of 2021.
