Federal Street, Pathstone to Form New Firm

Federal Street's founder, John LaPann, will be chairman of the new firm.

"Pathstone Federal Street integrates and leverages each organization's strengths and expertise," he said. "Pathstone combines its solid legacy in providing integrated family office services, state-of-the-art technology and operating efficiencies with Federal Street's long-respected internal manager research, due diligence process, and leadership in sustainable and impact investing."

Boston-based Federal Street was ranked No. 7 on the 2012 Top Wealth Managers list. LaPann said then that Federal Street was among the first open-architecture wealth management firms for individuals and families when it launched in 1991. "There were financial planners and big institutional consultants, but nobody was really addressing the needs of institutional-sized families," he said in an interview with Marlene Satter. "That was the original concept."

As of May, Federal Street had $3.7 billion in assets under management and more than 1,400 accounts, according to its most recent Form ADV. 

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