Pathstone Announces the Acquisition of WaterOak’s Investment Advisory and Wealth Management Business
Escalating Intelligent(ly) in a Way That Matters
ENGLEWOOD, N.J., March 31, 2022 /PRNewswire/ — Pathstone, an independently operated, associate-owned advisory company featuring in depth tailored financial commitment information and family members place of work expert services for families, household places of work, and foundations and endowments, nowadays introduced it entered into an agreement to get selected assets of Eaton Vance WaterOak Advisors (“WaterOak”)*. WaterOak, primarily based in Winter Park, Florida, provides institutional and private wealth shoppers with personalized expenditure methods that leverage WaterOak’s considerate, technological know-how-pushed strategy.
The addition of WaterOak provides highly developed engineering, systems & system to enhance Pathstone’s already-strong platform.
WaterOak advises on close to $3 billion in assets, bringing Pathstone’s complete assets underneath advisement to additional than $35 billion. The blend will appreciably increase Pathstone’s footprint in Florida Pathstone will now be in 14 spots in the U.S. with 235 crew members, much more than 100 of whom are shareholders of the firm.
Like Pathstone, WaterOak offers really custom made alternatives and individualized awareness to clients, with an emphasis on lengthy-phrase, multigenerational prosperity management. The addition of WaterOak delivers superior technological innovation, units and course of action to increase Pathstone’s previously-strong system. WaterOak consumers will achieve accessibility to Pathstone’s ground breaking choices and expert companies. Additional, the scale of the blended companies will profit the clients of the two businesses by delivering bigger access to chopping-edge investment remedies as effectively as expense efficiencies above time.
“We are incredibly psyched to welcome WaterOak to our spouse and children,” claimed Matthew Fleissig, President of Pathstone. “They, like Pathstone, are driven by innovation and believe that unique technological innovation and course of action will retain us a generation forward of the business.” Matt added, “Our shopper services tactic at Pathstone is established on our people. We believe that bringing together gifted folks from different backgrounds will allow for us to create even increased benefit for our clientele.”
L. Clarke Lemons, Director, Southeast for Eaton Vance WaterOak Advisors (and founder of WaterOak Advisors), reported, “Pathstone signifies the culture, vision, and perspective that we so really benefit in our care for our folks and customers. We share the very same values with Pathstone, and we consider Pathstone will be a fantastic companion for our staff and our purchasers for the foreseeable foreseeable future.”
Willkie Farr & Gallagher, LLP served as legal counsel for Eaton Vance WaterOak Advisors. Schulte Roth & Zabel, LLP served as authorized counsel to Pathstone.
*WaterOak was acquired by Eaton Vance Investment Counsel, a wholly owned subsidiary of asset administration organization Eaton Vance Corp., in November of 2020. Eaton Vance Corp. and its subsidiaries, which include WaterOak were subsequently acquired by Morgan Stanley in March of 2021.
About Pathstone
Pathstone is an independently operated, associate-owned advisory agency featuring extensive loved ones business companies and customized financial commitment assistance for households, loved ones workplaces, and foundations and endowments. Pathstone is institutionally backed by Lovell Minnick Partners.
With a long time of experience as dependable advisors, we utilize an advocacy-centered design that empowers our clients to outline and realize their exceptional very long-phrase ambitions and assist their legacy. For far more info, you should visit www.pathstone.com.
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Source Pathstone