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: https://digital.citywireusa.com/ria-50-growers-2022/
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