Pathstone, an Englewood, New Jersey-based registered investment adviser advising on $38 billion in assets, has entered into an agreement to acquire Dyson Capital Advisors, an Alexandria, Virginia-based RIA firm overseeing $3.5 billion.
Terms of the planned acquisition were not disclosed.
Dyson was founded in 2007 by Nicholas Perrins and Scott Darling, who previously ran a single-family office, and were joined by Sarb Shah as a partner in 2013, Pathstone said in a press release.
The acquisition will bring Pathstone’s total assets under advisement to approximately $38 billion. Pathstone will now be in 14 locations with 295 team members, more than 115 of whom are shareholders of the firm.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
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