Pathstone Announces the Acquisition of WaterOak’s Investment Advisory and Wealth Management Business
Developing Good(ly) in a Way That Issues
ENGLEWOOD, N.J., March 31, 2022 /PRNewswire/ — Pathstone, an independently operated, lover-owned advisory company providing complete tailored financial investment information and family business office providers for families, relatives offices, and foundations and endowments, currently introduced it entered into an agreement to acquire particular property of Eaton Vance WaterOak Advisors (“WaterOak”)*. WaterOak, dependent in Winter season Park, Florida, offers institutional and personal prosperity clients with tailor made expense methods that leverage WaterOak’s thoughtful, technologies-pushed technique.
The addition of WaterOak delivers state-of-the-art engineering, units & course of action to enhance Pathstone’s presently-strong system.
WaterOak advises on about $3 billion in assets, bringing Pathstone’s complete belongings under advisement to additional than $35 billion. The mixture will drastically develop Pathstone’s footprint in Florida Pathstone will now be in 14 spots in the U.S. with 235 team associates, much more than 100 of whom are shareholders of the agency.
Like Pathstone, WaterOak provides remarkably custom-made solutions and individualized consideration to shoppers, with an emphasis on long-time period, multigenerational prosperity administration. The addition of WaterOak provides superior technologies, methods and system to greatly enhance Pathstone’s presently-sturdy system. WaterOak clients will attain access to Pathstone’s progressive choices and professional providers. Additional, the scale of the blended firms will profit the consumers of equally companies by providing higher access to slicing-edge expenditure remedies as nicely as expense efficiencies over time.
“We are very thrilled to welcome WaterOak to our household,” explained Matthew Fleissig, President of Pathstone. “They, like Pathstone, are driven by innovation and consider that exceptional technological know-how and course of action will retain us a technology forward of the business.” Matt extra, “Our shopper provider strategy at Pathstone is founded on our men and women. We feel that bringing jointly talented people today from different backgrounds will enable us to produce even higher benefit for our purchasers.”
L. Clarke Lemons, Director, Southeast for Eaton Vance WaterOak Advisors (and founder of WaterOak Advisors), mentioned, “Pathstone represents the culture, vision, and standpoint that we so remarkably benefit in our treatment for our men and women and clients. We share the exact same values with Pathstone, and we believe Pathstone will be a excellent husband or wife for our team and our purchasers for the foreseeable future.”
Willkie Farr & Gallagher, LLP served as lawful counsel for Eaton Vance WaterOak Advisors. Schulte Roth & Zabel, LLP served as legal counsel to Pathstone.
*WaterOak was obtained by Eaton Vance Expense Counsel, a wholly owned subsidiary of asset management business Eaton Vance Corp., in November of 2020. Eaton Vance Corp. and its subsidiaries, together with WaterOak were subsequently obtained by Morgan Stanley in March of 2021.
About Pathstone
Pathstone is an independently operated, lover-owned advisory business giving detailed family office environment solutions and tailored financial commitment tips for families, household offices, and foundations and endowments. Pathstone is institutionally backed by Lovell Minnick Associates.
With decades of experience as trusted advisors, we utilize an advocacy-centered design that empowers our purchasers to determine and obtain their exceptional very long-term ambitions and guidance their legacy. For a lot more data, please visit www.pathstone.com.
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