Pathstone, an independently operated and partner-owned advisory firm recently announced its acquisition of Cornerstone Advisors Inc.

Cornerstone Advisors Inc. is a wealth and lifestyle management company headquartered in Bellevue.

“We are incredibly excited for our shared path to success in service to our clients and employees,” Steve Braverman, Co-CEO of Pathstone, said in a press release. “Cornerstone is uniquely aligned around our future mission and shares a similar culture as ours with a focus on their people, growth, service to clients, and promise of being a multigenerational firm. Together we can continue our vision to be a firm celebrated for our core values.”

Ken Hart, CEO of Cornerstone, said the acquisition is the start of the next chapter for Cornerstone.

“This decision was a result of a deliberate and diligent process with a core focus on building the best possible future for clients and employees. It will have significant positive long-term impact and will position us to continue to thrive going forward,” he said in the press release.

According to Pathstone’s press release, the combination of the two firms will allow more opportunities for clients as it will leverage the talents of 200 employees across nine offices serving clients representing in excess of $20 billion in total advisory assets.