A $6.5 billion multifamily office has been created with the merger of Pathstone Family Office and Federal Street Advisors to create Pathstone Federal Street, the two firms announced Tuesday.
The merger of the two firms was originally announced in September and has now been completed.
Federal Street, based in Boston, is an independent investment consultant and wealth management firm for individuals, families and nonprofit organizations. Pathstone Family Office is a multifamily office based in Fort Lee, N.J. The two have a total of 190 clients.
The new firm also will have offices in Atlanta and Naples, Fla., to serve high-net-worth and institutional clients.
“This marks an exciting new chapter for us—it expands our capabilities and offerings in wealth management,” Steve Braverman, who was co-CEO of Pathstone Family Office and will hold the same position at the new Pathstone Federal Street, said in a prepared statement. “We feel this combination of talents, founded on a strong mutual heritage of multigenerational stewardship and independent advice, will offer broader perspective, deeper services and a robust organization built for the long-term.”
Matthew Fleissig of Pathstone Family Office will become president of the new organization, joined by Eric Godes and Jennifer Murtie of Federal Street Advisors, who will share the chief operating officer title at Pathstone Federal Street.
Kristin Fafard of Federal Street will continue as chief investment officer for the combined organization. Matthew Sher will serve as the new firm’s chief compliance officer and chief technology officer. New managing directors at Pathstone Federal Street are Daniel Gross, Kelly Maregni, Janet Mertz, Mark Peters, and Charles Walsh.