As part of the deal, Pathstone gets access to Cornerstone's sustainable and impact investing know-how - important areas in today's wealth management industry.

(Clarifies earlier version of this article. The business Cornerstone Capital Group should be distinguished from another firm called Cornerstone that Pathstone hooked up with last year.)

US wealth management firm Pathstone has joined up with RIA firm Cornerstone Capital Group, pushing Pathstone's total assets under management past the a $20 billion mark.

Cornerstone’s expertise in sustainable and impact investing will add to the work Pathstone does in this area already; Cornerstone clients tap into Pathstone’s services and technology.

Erika Karp will serve as Pathstone’s chief impact officer and join Pathstone’s executive and investment committees. Other Cornerstone staff, including chief investment officer Craig Metrick and chief impact strategist Katherine Pease, will join the Pathstone team. Pathstone adds offices in Denver and Manhattan and now serves clients representing close to $25 billion in total advisory assets.

Morrison & Foerster served as legal counsel for Cornerstone. Nesvold Capital Partners advised Pathstone and Alston & Bird. Specific financial terms weren’t disclosed. 

Founded in 2013, Cornerstone Capital Group is based in New York.