The Wealth Management Playbook: What Firms Can Learn From Pathstone

As I research the evolution of wealth management for my upcoming book, I’m constantly on the lookout for firms that are doing things differently—breaking away from the pack and redefining what it means to serve high-net-worth families. I recently spoke with Matt Fleissig, co-founder and CEO of Pathstone. Matt shared valuable insights intothe firm’s forward-thinking approach, one that reimagines the entire client experience.

With an unbundled service model, a focus on meaningful community-building, and a strategic commitment to leveraging technology, Pathstone offers a roadmap that other wealth management firms can learn from. Here’s what I think firms can take away and implement in order to differentiate themselves and enhance their client offerings.

Prioritize Client-Centric Services

To build stronger client relationships, wealth managers must move beyond a one-size-fits-all approach. Instead of bundling services into rigid packages, firms can offer client the flexibility to select the support they need—whether that’s estate planning, comprehensive financial management, or bill pay.

Fleissig emphasized that client-first thinking isn’t just a slogan—it’s central to every decision that his firm makes. “It’s not just about numbers or returns; it’s about understanding what’s important to our clients, what their goals are, and how we can provide the right strategies to help them succeed” he said.

For firms looking to strengthen client relationships, the key takeaway is clear: listening to client needs and offering tailored solutions fosters trust and long-term loyalty.

Expand Beyond Investment Management

With investment strategies increasingly commoditized, firms can distinguish themselves by offering a wider scope of services. A truly integrated approach to wealth management includes cash flow planning, tax optimization, estate structuring, and generational wealth transfer strategies.

By positioning themselves as comprehensive financial stewards rather than just investment managers, firms can help clients navigate the complexities of wealth with greater clarity and confidence.

Create Meaningful Client Communities

Today’s clients seek more than just financial advice—they want to connect with like-minded individuals who share similar values and goals. Firms can foster deeper engagement by hosting exclusive events, facilitating peer networking, and curating experiences that go beyond traditional wealth management.

Fleissig sees wealth management evolving beyond traditional advisory services. “The idea of people being able to find community in different places … that’s what we’re heavily investing in,” he explains. By creating spaces where clients can connect with like-minded peers, firms can deepen relationships and redefine their role beyond financial planning.

For firms looking to build stronger client relationships, creating opportunities for connection can be a game-changer. A strong sense of community fosters loyalty, it also increases engagement and enhances a firm’s value beyond financial services.

Align Investments with Clients’ Values

Wealth managers can play a crucial role in helping clients integrate their personal values into their financial strategies. Rather than simply offering conventional investment options, advisors can guide clients in building portfolios that reflect their philanthropic interests, social priorities, or mission-driven objectives.

Pathstone believes that wealth should serve a greater purpose. “As advisors, we havethe ability to ensure that a client’s wealth is not just growing, but also working toward something meaningful,” Fleissig notes. By prioritizing impact investing and multi-generational wealth planning, firms can meet the rising demand for purpose-driven financial strategies.

Leverage AI and Technology for Better Service

Technology, particularly AI, is reshaping the wealth management landscape. AI-driven automation can streamline portfolio management, tax optimization, and reporting, allowing advisors to spend more time on relationship-building and strategic planning. While AI won’t replace advisors, firms that effectively integrate technology will be able to enhance efficiency, improve client experience, and offer more personalized solutions at scale.

Looking Ahead

The future of wealth management belongs to firms that remain agile, client-focused, and committed to innovation. By prioritizing flexibility, community-building, values-driven investing, and technology, firms can differentiate themselves and better serve the evolving needs of their clients.

For those looking to grow and future-proof their businesses, the message is clear: listen, adapt, and innovate.