Pathstone, a non-public equity-backed, multifamily workplace based mostly in Englewood, N.J., has employed Eddie Brown as its chief progress officer, a newly created place. Brown joins from Schwab Advisor Companies, the place he was a managing director, member of the management crew and head of Schwab Advisor Household Workplace and the Premier Wealth Group.
On this position, Brown shall be answerable for the RIA’s natural progress and enterprise improvement methods. He’ll create advertising and marketing methods throughout three subsidiaries, together with Pathstone Household Workplace, Willow Road Belief Firm and Advisor Companions. The agency additionally hopes to faucet into his expertise to gas progress within the household workplace and ultra-high-net-worth house.
Previous to becoming a member of Schwab, Brown served as a senior vp at Constancy Household Workplace Companies, the place he established a relationship with Pathstone as one of many agency’s first multifamily workplace shoppers. He continued that relationship at Schwab.
“We have now an in depth historical past and relationship with Eddie relationship again to our launch in 2010, the place his advocacy and knowledgeable steering has been instrumental to our agency’s journey and success,” stated Matt Fleissig, CEO and co-founder of Pathstone, in an announcement. “He has a formidable observe report constructing high-performing wealth and household workplace practices which aligns with our ambitions to innovate and develop as a primary of its form firm, servicing shoppers with complicated wants.”
Brown’s appointment follows information final month that Pathstone will purchase Corridor Capital Companions, a long-standing, bi-coastal RIA with $45 billion in consumer property. The mix will create an RIA with almost $160 billion in property beneath advisement and administration and $100 billion in property beneath administration.
Pathstone has been paving a path for itself within the RIA house, rising from $16 billion in AUA in 2019 to almost $160 billion in the present day.
The RIA’s worker possession mannequin was launched in late 2019, following an preliminary funding from Lovell Minnick Companions at a time when Pathstone claimed near $15 billion in property.
Early final yr, middle-market non-public fairness agency Kelso & Firm joined LMP as a Pathstone investor, prompting LMP’s funding banker, Peter Nesvold of Republic Capital Group, to declare the agency had turn into a “purchaser of alternative within the UHNW market.”
