Pathstone, a private equity-backed multifamily office based in Englewood, NJ, has hired Eddie Brown as its new chief growth officer. Brown joins from Schwab Advisor Services, where he was a managing director, member of the leadership team and head of Schwab's Family of Advisors Office and Premier Wealth Group.
In this role, Brown will be responsible for the RIA's organic growth and business development strategies. He will create marketing strategies across three subsidiaries, including Pathstone Family Office, Willow Street Trust Company and Advisor Partners. The firm also hopes to leverage his experience to drive growth in the family office and ultra-high net worth space.
Prior to joining Schwab, Brown served as senior vice president at Fidelity Family Office Services, where he established a relationship with Pathstone as one of the firm's first multifamily office clients. He continued that relationship at Schwab.
“We have an extensive history and relationship with Eddie dating back to our inception in 2010, where his advocacy and expert guidance have been instrumental to our firm's journey and success,” said Matt Fleissig, CEO and co-founder of Pathstone, in a statement. . “He has an impressive track record of building high-performing wealth and family office practices that align with our ambitions to innovate and grow as a first-of-its-kind company, serving clients with complex needs.”
Brown's appointment follows last month's news Pathstone to acquire Hall Capital Partnersa long-established, bi-coastal RIA with $45 billion in client assets. The combination will create an RIA with approximately $160 billion in assets under advice and administration and $100 billion in assets under management.
Pathstone has carved a path for itself in the RIA space, growing from $16 billion in AUA in 2019 to nearly $160 billion today.
The RIA employee ownership model was introduced at the end of 2019, after a initial investment from Lovell Minnick Partners at a time when Pathstone claimed close to $15 billion in assets.
At the beginning of last yearMiddle market private equity firm Kelso & Company has joined LMP as a Pathstone investor, prompting LMP investment banker Peter Nesvold of Republic Capital Group to state that the firm has become a “buyer of choice in the UHNW market “.