Pathstone Acquires Cornerstone Advisors Inc.

Cornerstone Advisors Acquires Next Step, Inc.

December 7, 2021

Consulting

Cornerstone Advisors, a Scottsdale-based management and technology consulting firm and portfolio company of Altamont Capital Partners, has acquired Orlando-based Next Step, Inc., a specialist professional services team serving banks and credit unions. The acquisition is an add-on to Cornerstone that expands its core banking systems, implementation and contract negotiation capabilities to better serve mid-size financial institutions.

Pathstone Acquires Hall Capital Partners

October 16, 2024

Wealth Management

Pathstone, a partner-owned RIA backed by Kelso & Company and Lovell Minnick Partners, has agreed to acquire Hall Capital Partners to expand its investment capabilities and national footprint. Hall Capital brings roughly $45 billion in assets under advisement, about 180 team members across San Francisco and New York, and the deal will be supported by additional capital from Kelso, Lovell Minnick and Pathstone management.

Prime Capital Investment Advisors Acquires Cornerstone Comprehensive Wealth Management

March 8, 2023

Financial Services

Prime Capital Investment Advisors (PCIA) has acquired Reno, Nevada-based registered investment advisor Cornerstone Comprehensive Wealth Management, adding approximately $400 million in assets under management and establishing PCIA’s first location in Nevada. Cornerstone’s 10 employees — including four advisors who will continue to serve roughly 575 households — will join PCIA; the acquisition closed on March 8, 2023.

Pathstone Acquires Eaton Vance WaterOak Advisors' Investment Advisory and Wealth Management Business

March 31, 2022

Wealth Management

Pathstone has agreed to acquire certain assets of Eaton Vance WaterOak Advisors ("WaterOak"), adding roughly $3 billion in assets under advisement and expanding Pathstone’s footprint in Florida. The deal brings WaterOak’s team and technology onto Pathstone’s partner-owned platform (institutionally backed by Lovell Minnick Partners), increasing Pathstone’s total AUA to more than $35 billion and its headcount to about 235.

Altamont Capital Partners Invests in Cornerstone Advisors

October 2, 2020

Professional Services

Altamont Capital Partners made an equity investment in Cornerstone Advisors, a Scottsdale-based provider of advisory services to mid-size banks and credit unions. The founders Scott Sommer and Steve Williams remain as CEO and President, and the capital will support Cornerstone’s investments in employees, data-powered offerings and internal infrastructure to accelerate growth.

Kelso & Company Invests in Pathstone; Lovell Minnick Partners Continues Support

May 27, 2023

Wealth Management

Kelso & Company completed a strategic equity investment in Pathstone in May 2023, joining existing investor Lovell Minnick Partners which is increasing its capital commitment. Pathstone, an independent wealth management and family office advisory firm with more than 350 employees across 17 offices and over $80 billion in client assets, will use the capital to invest in people, technology, and to accelerate its growth and M&A strategy while management continues to run day-to-day operations.