Pathstone announced Thursday that it acquired Mill Creek Capital Advisors, a Conshohocken, Pennsylvania-based RIA serving nearly 450 families and institutions representing almost $12 billion in assets.
The transaction closed on June 1 and the addition of Mill Creek, which was founded in 2006, adds 46 financial advisors and other professionals to Pathstone, it said.
“Mill Creek will be fully integrated under the Pathstone brand,” a Pathstone spokesperson told Wealth Solutions Report on Friday.
Pathstone said the two firms had “decades of familiarity,” but only started formal conversations about combining in the summer of 2025.
With Pathstone’s existing office in Newtown Square, Pennsylvania, the combined firm has one of the largest independent RIA footprints in the Philadelphia metro area, the company said.
“From our earliest conversations, it was clear that Pathstone and Mill Creek shared a common view of what matters most: serving clients with depth, care, objectivity, and continuity,” Joshua Gross, CEO of Mill Creek Capital Advisors, said in the release.
“Pathstone’s culture, capabilities, and long-term orientation made this a natural next step for our clients and our team.”
“Mill Creek is the only company-level acquisition Pathstone has made in 2026,” the spokesperson said. But she added, “earlier this year, a team from Morgan Stanley Private Wealth transitioned their practice to Pathstone.”
The combined organization now has more than120 team members and advises on almost $30 billion in assets between the Conshohocken and Newtown Square offices alone, according to Pathstone.
Overall, Pathstone has over 775 team members in 22 offices, including affiliate firms, with about $185 billion in aggregate assets under management, assets under advisory and assets under administration that are made up of $125 billion for its Family Office and $62 billion for its affiliate firms as of Dec. 31.
Colchester Partners served as financial advisor and Cozen O’Connor was legal counsel to Mill Creek. Alston & Bird served as legal counsel to Pathstone.
“We continue to have conversations with professionals and complementary service providers that could enhance our ability to serve families with significant wealth,” Matthew Fleissig, CEO of Pathstone, told WSR by email on Friday.
He added, “As always, we maintain a high bar when evaluating opportunities, with cultural alignment and a shared commitment to client service being just as important as strategic fit.”
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
