![]() Philadelphia, PA - Ma– Lovell Minnick Partners (“LMP”), a private equity firm investing in growth-oriented companies, today announced the successful recapitalization of Pathstone, an independently operated, partner-owned advisory firm offering comprehensive family office services and customized investment advice. With hundreds of experts across the country, including in-house actuarial consultants, ERISA attorneys, document specialists and retirement plan consultants, Definiti helps clients redefine what’s possible with workplace retirement plans.Īdditional capital solidifies Pathstone’s position as an industry leader and further empowers the firm’s culture of growth and innovation in business administration from the University of California, Berkeley.įrom 401(k) plan design and administration, compliance and actuarial consulting, to pension outsourcing and recordkeeping, Definiti helps organizations deliver smart retirement solutions to their employees. He currently serves on the boards of MicroVest Capital Management, ImpactAssets, Align Impact, Pathstone and the Social Impact Lab at Lynn University. Cordes currently is an Advisory Council Member to LMP, assisting in deal sourcing, evaluation and due diligence, and is co-founder of the Cordes Foundation with his wife. He co-authored “The Art of Investing” published by McGraw Hill, and was an Ernst & Young Entrepreneur of the Year. managed account platform with more than $70 billion of AUM and a former portfolio company of LMP. Cordes co-founded and served as CEO and Executive Co-Chairman of AssetMark Inc., a leading U.S. He began his career in financial services at Chemical Bank and then Morgan, Grenfell & Co. House of Representatives from 1999 to 2005, where he was a member of the House Financial Services and Budget Committees. Toomey was the Ranking Member of the Senate Banking Committee from 2021 to 2023 and previously chaired the Subcommittee on Financial Institutions and Consumer Protection. Senate from 2011 to 2023, serving on the Senate Banking, Housing, and Urban Affairs Budget and Finance Committees, as well as the Joint Economic Committee and the Joint Select Committee on Deficit Reduction. Toomey represented Pennsylvania in the U.S. “Both of these individuals will provide tremendous value as Definiti continues to expand its client base and works to achieve ambitious organic growth initiatives and continued acquisitions of quality firms for years to come.” “Ron’s deep knowledge of the financial advisor ecosystem coupled with Pat’s extensive background in government service and financial services make them ideal additions to the Definiti Board,” said Jason Barg, Partner at LMP. ![]() “We’re thrilled to welcome Pat and Ron to the Board and look forward to working with them to expand our distribution partners and product suite, and continue our legacy of providing effective and unique retirement solutions to our clients.” “Building the right team of leaders and advisors has directly impacted Definiti’s ability to offer best-in-class services to our valued customer base,” said Tom Gaillard, CEO of Definiti. These two Board appointments follow the recently announced investment in Definiti by Lovell Minnick Partners (“LMP”), which closed on March 16. Cordes will serve alongside Definiti’s other Managers, bringing nearly 75 years of regulatory affairs, retirement policy, and wealth management acumen to the Board. Senator Patrick Toomey and former AssetMark CEO Ronald Cordes to its Board of Managers. – Ma– Definiti LLC, a national retirement services firm that supports more than 10,000 workplace organizations and 12,500 retirement plans across the U.S., today announced the appointments of former U.S. Executives Bring Decades of Retirement Policy and Financial Services Experience to the Firm
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