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Pathstone Fees (2026): The Form ADV Prints No Rate

Updated October 24, 2026. Quick answer: Pathstone does not publish a fee rate. Its Form ADV Part 2A brochure (March 31, 2026) says “Pathstone does not provide a percentage or dollar range of fees in its Form ADV.” It lists the kinds of fee it may charge for each service and says they are negotiable, so there is no percentage on this page to convert to dollars.

What the brochure prints about fees

Pathstone Family Office, LLC (CRD 151736), which uses the name Pathstone, is an SEC-registered investment adviser that shows as active in the SEC’s adviser database. Its brochure explains the missing number this way: “due to the number and complexity of different legacy organizations’ fee schedules and services”, it gives no range.

What it does print is the menu. Depending on the services selected, Pathstone may charge “an asset-based fee with fixed or tiered percentage points and/or breakpoints, a fixed or flat fee, a management fee, a performance fee, a comprehensive fee, a revenue share arrangement, a time/materials-based fee, or other types of fee arrangements in its discretion”.

Fee type by service, as the brochure lists it

The brochure’s fee schedule table pairs each broad category of services with the arrangement types that can apply. It states no rate for any row, and it says the categories are illustrative samples.

Service categoryFee arrangement type the brochure lists
Investment advisory“Asset-based fee with fixed or tiered percentage and/or breakpoints; fixed/flat fee; performance-based fee, etc.”
Investment reporting“Asset-based fee with fixed or tiered percentage and/or breakpoints; fixed/flat fee.”
Investment administration“Asset-based fee with fixed or tiered percentage and/or breakpoints; fixed/flat fee.”
Accounting-related services, Personal CFO (for example banking, bill payment, vendor management, payroll, lifestyle management)“Fixed/flat fee.”
Tax-related services (for example tax compliance, audit defense, research)A time-and-materials charge at a fixed rate, or a flat fee (the brochure abbreviates this wording)
Family office structure and financial reporting“Fixed/flat fee.”
Wealth planning related services (for example financial, tax and estate planning, philanthropy, insurance)“Fixed/flat fee.”
Risk management related services (for example medical, travel, personal security and property insurance)“Fixed/flat fee.”
Extended family office services“Fixed/flat fee.”
Private fund sponsorship or sub-advisory (Affiliated Funds)“Asset-based fee with fixed or tiered percentage and/or breakpoints; fixed/flat fee; performance-based fee, revenue share, etc.”

How Pathstone says you get a price

Pricing is given to a prospect, not published. The brochure describes a process it calls PathForward, during which “Pathstone generally provides an estimated pricing level of the overall engagement and/or an individual break-out of costs for each service”. It adds that “Fee Arrangements are negotiable depending on the facts and circumstances of each engagement”, and that the fee terms are set in the written agreement.

Ask for that break-out in writing, one line per service, before you sign. It is the only place a Pathstone price appears.

Who the brochure says it serves

The brochure says “Pathstone primarily serves UHNW families” and that “client portfolios generally begin with assets under management of $10 million or more for investment advisory related services”. That is the size the firm describes as typical, not a stated minimum account, so this page does not list a minimum investment.

The brochure gives these size figures, as of December 31, 2025 for the assets:

FigureAmount in the brochure
Discretionary regulatory assets under management$65,580,318,345
Non-discretionary regulatory assets under management$44,715,555,393
Total regulatory assets under management$110,295,873,738
Where client portfolios generally begin for investment advisory related services$10 million or more

Fees that sit outside the advisory fee

Pathstone is also paid for work it does for its own pooled vehicles. The brochure says the firm is compensated for portfolio management and related services as sponsor, manager or sub-adviser to what it calls the Affiliated Funds program, and its fee table lists a revenue share among the possible arrangements for that program. Ask which, if any, of your holdings are in an Affiliated Fund and what each layer costs.

Common mistakes

  • Looking for a percentage to multiply by your balance. The brochure says “Pathstone does not provide a percentage or dollar range of fees in its Form ADV.”
  • Treating the roughly $10 million starting size as a minimum. The brochure calls it where portfolios “generally begin”.
  • Comparing Pathstone with a firm that prints a schedule as if both numbers existed. See Pathstone and Cresset side by side for what can and cannot be compared.

Related: Pathstone and Cresset side by side, family office fees, private wealth management fees, and Cresset’s fees in dollars.

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Sources

  • Pathstone Family Office, LLC (d/b/a Pathstone), Form ADV Part 2A brochure, March 31, 2026 (SEC IAPD): files.adviserinfo.sec.gov
  • Related official page (not quoted): SEC IAPD registration record, Pathstone (CRD 151736): adviserinfo.sec.gov

Read from the firm documents linked above on October 24, 2026. General information, not investment advice. Fees, minimums and terms change with each revision, so confirm the current schedule with the firm before relying on any figure here.

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