Pathstone says client assets reached $200 billion in 16 years

Pathstone says it has grown from about $1.4 billion in client assets to $200 billion in 16 years, according to a WealthManagement.com profile for its RIA Edge 100 list. CEO Matthew Fleissig told the outlet the firm used acquisitions, widespread employee ownership and a client-events program.

Pathstone added a Philadelphia-area RIA with $12 billion in client assets this June and the $45 billion bi-coastal RIA Hall Capital Partners in 2024, per the profile. Fleissig described the events pitch: "Our clients can go to the Super Bowl on their own. But can I gather three snowcats of centimillionaire families to have an experience, and bond and connect?"

Pathstone bought a Colorado firm that specializes in client events and will host 77 events in 2026, according to Fleissig. The events include whitewater rafting trips and closed-door meetups with U.S. senators, the profile says. The program began when a client asked to meet other Pathstone families: "I bet you have other cool families. Can I meet them?"

Patience Peterson, a marketing executive and brand strategist at Pathstone, said the calendar is built from client suggestions: "It 100% comes from listening to our clients over many, many years and deciding what to do based on that feedback." Outdoor activities work, she said, because they promote open conversation that might not happen in a "conference room at the Four Seasons."

Pathstone's regulatory assets under management were $110.3 billion as of Oct. 3, with 704 employees and 27,165 accounts, according to PWD records cited in the profile. The profile does not reconcile that regulatory measure with the $200 billion client-asset figure. That works out to roughly $4 million per account, the tier the events program targets. The profile says the gatherings lead clients to invite friends, family members and other professional contacts to later events.