Rule number one: Don’t mess with success.
That maxim might have been fixed pretty tightly in the minds of Steve Braverman and Allan Zachariah, after doubling the size of Pathstone Family Office in just five years. The growth came organically. Still, a February 2014 client advisory board meeting themed “Pathstone 2.0, The Next Generation” pondered where leadership was going to take the firm as a next stage. That question was unexpectedly answered roughly one year later when agents representing Federal Street Advisors, another multifamily office, came calling.
The impetus behind that call was John LaPann, founder and longtime leader of Federal Street. LaPann was presumably thinking in terms of finally extracting the value out of his life’s work — as well as ensuring the long-term stewardship of his client families and his colleagues. In the course of considering his options, LaPann hired an advisory organization that reached out to Bra