Pathstone, a private equity-backed, multifamily office based in Englewood, N.J., has hired Eddie Brown as its chief growth officer, a newly created position. Brown joins from Schwab Advisor Services, where he was a managing director, member of the leadership team and head of Schwab Advisor Family Office and the Premier Wealth Group.
In this role, Brown will be responsible for the RIA’s organic growth and business development strategies. He’ll create marketing strategies across three subsidiaries, including Pathstone Family Office, Willow Street Trust Company and Advisor Partners. The firm also hopes to tap into his experience to fuel growth in the family office and ultra-high-net-worth space.
Prior to joining Schwab, Brown served as a 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 launch in 2010, where his advocacy and expert guidance has 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 building high-performing wealth and family office practices which aligns with our ambitions to innovate and grow as a first of its kind company, servicing clients with complex needs.”
Brown’s appointment follows news last month that Pathstone will acquire Hall Capital Partners, a long-standing, bi-coastal RIA with $45 billion in client assets. The combination will create an RIA with nearly $160 billion in assets under advisement and administration and $100 billion in assets under management.
Pathstone has been paving a path for itself in the RIA space, growing from $16 billion in AUA in 2019 to nearly $160 billion today.
The RIA’s employee ownership model was introduced in late 2019, following an initial investment from Lovell Minnick Partners at a time when Pathstone claimed close to $15 billion in assets.
Early last year, middle-market private equity firm Kelso & Company joined LMP as a Pathstone investor, prompting LMP’s investment banker, Peter Nesvold of Republic Capital Group, to declare the firm had become a “buyer of choice in the UHNW market.”
