Pathstone Announces the Acquisition of WaterOak's Investment Advisory and Wealth Management Business

Rising Sensible(ly) in a Way That Issues

ENGLEWOOD, N.J., March 31, 2022 /PRNewswire/ — Pathstone, an independently operated, lover-owned advisory firm featuring in depth custom made financial commitment information and spouse and children business providers for people, family places of work, and foundations and endowments, right now declared it entered into an agreement to acquire particular assets of Eaton Vance WaterOak Advisors (“WaterOak”)*. WaterOak, primarily based in Wintertime Park, Florida, presents institutional and private wealth customers with customized expense solutions that leverage WaterOak’s thoughtful, technological know-how-pushed method.

The addition of WaterOak delivers state-of-the-art engineering, systems & method to greatly enhance Pathstone’s already-strong platform.

WaterOak advises on around $3 billion in belongings, bringing Pathstone’s whole property less than advisement to far more than $35 billion. The combination will noticeably expand Pathstone’s footprint in Florida Pathstone will now be in 14 destinations in the U.S. with 235 staff members, extra than 100 of whom are shareholders of the agency.

Like Pathstone, WaterOak presents extremely custom-made methods and individualized interest to shoppers, with an emphasis on lengthy-term, multigenerational prosperity management. The addition of WaterOak provides superior engineering, methods and process to enrich Pathstone’s previously-robust platform. WaterOak consumers will attain access to Pathstone’s modern choices and expert expert services. Further more, the scale of the put together firms will advantage the customers of the two organizations by offering greater access to cutting-edge expenditure remedies as effectively as value efficiencies over time.

“We are very energized to welcome WaterOak to our loved ones,” said Matthew Fleissig, President of Pathstone. “They, like Pathstone, are pushed by innovation and feel that exclusive technology and method will keep us a era in advance of the field.” Matt extra, “Our client service tactic at Pathstone is established on our individuals. We believe that that bringing alongside one another talented men and women from distinct backgrounds will let us to make even bigger price for our clientele.”

L. Clarke Lemons, Director, Southeast for Eaton Vance WaterOak Advisors (and founder of WaterOak Advisors), said, “Pathstone represents the society, eyesight, and viewpoint that we so extremely benefit in our care for our people and clientele. We share the same values with Pathstone, and we imagine Pathstone will be a excellent spouse for our crew and our consumers for the foreseeable long term.”

Willkie Farr & Gallagher, LLP served as lawful counsel for Eaton Vance WaterOak Advisors. Schulte Roth & Zabel, LLP served as authorized counsel to Pathstone.

*WaterOak was acquired by Eaton Vance Financial commitment Counsel, a wholly owned subsidiary of asset administration firm Eaton Vance Corp., in November of 2020. Eaton Vance Corp. and its subsidiaries, including WaterOak ended up subsequently obtained by Morgan Stanley in March of 2021.

About Pathstone

Pathstone is an independently operated, lover-owned advisory business providing detailed loved ones business products and services and custom-made investment tips for people, spouse and children places of work, and foundations and endowments. Pathstone is institutionally backed by Lovell Minnick Associates.

With a long time of knowledge as dependable advisors, we make use of an advocacy-focused design that empowers our customers to define and attain their unique lengthy-phrase ambitions and help their legacy. For extra facts, remember to visit www.pathstone.com.