Pathstone, an independently operated, partner-owned advisory firm based in Englewood, announced Monday it has entered into an agreement to acquire Brainard Capital Management of Austin, Texas.
Terms of the deal were not disclosed, but the combination will bring Pathstone’s total assets under advisement and administration to over $80 billion.
Pathstone will now have offices in 17 cities nationwide with over 350 team members, more than 180 of whom are shareholders of the firm.
Pathstone describes itself as offering comprehensive, customized wealth management advice and family office services for high net worth families, family offices, foundations and endowments.
Pathstone officials said Brainard provides investment consulting and advisory services to a select group of ultra-high net worth individuals and families with a unique focus in the technology space.
Pathstone CEO Matt Fleissig said the pair fit well together.
“Pathstone strives to be innovators, so, coming together with a firm built on servicing innovative entrepreneurs is only fitting,” he said. “Having known the Brainard team for a number of years, we always believed that working together would be mutually beneficial, and we couldn’t be happier to welcome our new team members in Austin.”
Founded by Owen Brainard in 2004, Brainard advises on approximately $2 billion in combined assets under management and administration and has developed a niche by leveraging its expertise in advising technology entrepreneurs. With such personal and professional experience in the space, the Brainard team brings extensive experience advising clients in pre- and post-liquidity wealth structures.
By coming together with Pathstone, the Brainard team will immediately be able to access Pathstone’s infrastructure, an expanded suite of services and a deep bench of talent to broaden the scope of the services available to existing clients and, ultimately, accelerate growth in an attractive market segment.
“We are thrilled to welcome the Brainard team to the Pathstone family,” Pathstone President Kelly Maregni said. “This addition not only brings incredibly talented individuals with unique skill-sets to our organization, but bolsters our presence in the high-growth Austin market. We are eager to begin learning and collaborating with our new team members.”
