Pathstone announces acquisition of Crestone Capital to enhance family office services

Pathstone, an esteemed partner-owned advisory firm renowned for its comprehensive and customized investment advice and family office services, today unveiled its landmark agreement to acquire Crestone Capital. The Boulder, Colorado-based Crestone is celebrated for its integrated investment management and wealth advisory services tailored to an elite circle of entrepreneurs, business owners, and their families.

Matt Fleissig, CEO of Pathstone, praised Crestone’s culture and client-centric approach, noting the synergy between the two firms’ dedication to serving ultra-high net worth families. This merger promises to fortify a multi-generational family office experience, enhancing Pathstone’s footprint in the affluent Rocky Mountain region. The integration will see key Crestone executives, including Eric Kramer and Matt Wiles, joining Pathstone’s leadership, bringing their expertise and the entire Crestone team into the Pathstone family.

Crestone Capital, founded by Eric Kramer in 1991, advises around 150 families with assets exceeding $3 billion. As a wholly employee-owned entity, Crestone boasts a staff of over 50 across offices in Colorado, Texas, and California. The firm’s three-decade tenure has established it as a beacon of growth and leadership in serving first-generation entrepreneurs and wealth creators with an institutional investing approach coupled with boutique, personalized client service.

Eric Kramer highlighted the complementary nature of Pathstone’s and Crestone’s client bases and the strategic benefits of scale brought about by this merger. Kelly Maregni, president of Pathstone, and Matt Wiles, president of Crestone, echoed these sentiments, emphasizing the shared culture and values that underpin this unification. They anticipate that this collaboration will not only extend but enhance the value proposition to their clients.

This acquisition signals a significant milestone, positioning Pathstone’s total assets under advisement and administration above the $100 billion mark. The expanded firm will operate from 20 offices nationwide, boasting a team of over 550 members, including more than 225 shareholders. This strategic move underscores Pathstone’s commitment to growth with purpose, aiming to enhance services for ultra-high net worth clients across its geographic presence.

Financial advisory for this transaction was provided by Republic Capital Group, with Brownstein Hyatt Farber Schreck LLP and Alston & Bird LLP serving as legal counsel to Crestone and Pathstone, respectively. This merger not only signifies a leap forward for both firms but also sets a new standard for the wealth management and family office service industry, especially in catering to the burgeoning entrepreneurial spirit of the Rocky Mountain region.