Pathstone, an Englewood, New Jersey-based registered investment advisory firm and family office managing $10.3 billion, has acquired Cornerstone Capital Group, a New York City-based RIA managing $1.1 billion that specializes in sustainable and impact investing.
Cornerstone’s expertise in portfolio construction incorporating sustainable investing principles will enhance Pathstone’s existing efforts in that area, the company said in a release.
Cornerstone's CEO, Erika Karp, will join Pathstone as its chief impact officer. Craig Metrick, Cornerstone's chief investment officer, Katherine Pease, its chief impact strategist, and other Cornerstone staff will also join Pathstone.
Several of the firm's advisors stole millions of dollars from clients.
Tech partner's capabilities will also provide digital wealth advice.
Brian Thompson was fatally shot in New York City last week.
Succession-style plot to change family trust now expected to go to appeal.
New money has boosted market to an estimated $48B
"The profitability of the CLO is going to be very attractive," said CIO at Flat Rock Global.
"Synth Equity has been such a tailwind for these advisors who really understand the story," Measured Risk Portfolios’ head of distribution said.