Cornerstone

What Cornerstone does

Cornerstone Advisors Asset Management is an independent, 100% employee-owned investment consulting firm headquartered in Bethlehem, Pennsylvania, founded in 1997 and operating through two affiliated LLCs: Cornerstone Advisors Asset Management, LLC (which delivers investment advisory services) and Cornerstone Institutional Investors, LLC (a member of M Financial Group, with securities offered through M Holdings Securities, Inc.). The firm manages $9.5 billion in assets as of December 31, 2025 and serves two primary customer segments: institutional investors (foundations, endowments, pension plans, and corporate retirement plan sponsors) and high-net-worth individuals and families. Core offerings include Outsourced Chief Investment Officer (OCIO) services, investment policy statement development, manager selection and monitoring, portfolio construction, performance reporting, retirement plan consulting, and philanthropic planning including charitable gift annuities and donor-advised funds. Jennifer Bauder's Retirement Planning practice alone oversees 150 plans across 18 providers with more than $3 billion in total assets, while Tyler Papaz's Private Wealth segment represents approximately 40% of firm revenue.

The firm's revenue model is fee-based, generating recurring investment advisory fees calculated as a percentage of assets under management or advisement, with pricing structured on a quote basis tailored to client needs rather than published rates. Its go-to-market is consultative and relationship-driven, relying on direct sales efforts, content marketing through blog posts and market commentary, LinkedIn presence, and earned media through industry publication rankings (Barron's, Pensions & Investments, NAPA, Financial Advisor Magazine, PLANADVISER) rather than paid acquisition channels. The team of 36 professionals holds more than 50 professional designations, with 9 employees celebrating 20+ year tenures and an additional 8 net new hires added in 2024. Underlying technology is described generically as an investment management and consulting technology platform with no disclosed proprietary AI or machine learning capabilities.

Cornerstone completed a planned leadership succession on January 1, 2025, transitioning founder Skip Cowen to President Emeritus while elevating Kevin Karpuk to President and appointing Ryan Wood and Trevor Reid as co-Chief Investment Officers. The firm reports a 97% client retention rate and earned the #1 ranking in Pensions & Investments Best Places to Work in Money Management 2024 in the 20-49 employee category, with consecutive-year recognition continuing in 2025 and 2026 across multiple industry rankings. Operating geographies are concentrated in the Northeast United States, with no disclosed international footprint. The firm made a notable external investment in February 2026, participating in Smart Bricks' $5 million pre-seed round led by Andreessen Horowitz to support autonomous AI agents for real estate investing, representing a strategic capital allocation experiment rather than an internal capability build.

Name

Cornerstone

Legal name

Cornerstone Advisors Asset Management, LLC

Website

https://cornerstone-companies.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Short description

Cornerstone Advisors Asset Management is an independent, 100% employee-owned investment consulting firm managing $9.5 billion in assets for institutional investors (foundations, endowments, pension plans, retirement plan sponsors) and high-net-worth individuals, offering OCIO, retirement plan advisory, and philanthropic planning services from Bethlehem, Pennsylvania.

Ownership category

akta.pro rank

Product category

Investment Advisory Services

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG)

akta.pro secondary industries

OCIO Providers (Outsourced CIO) (FSAAAGAH), OCIO & Multi-Asset Outsourced Portfolio Management (FSAAAJAF), Family Office Advisory & Outsourced CIO (OCIO) (FSAAADAC)

Keywords

• Investment advisory services
• Institutional consulting
• Retirement plan advisory
• Outsourced CIO services
• Wealth management advisory

Headquarters

HQ city

Bethlehem

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Investment Advisory Services: Fee-based investment advisory and consulting services provided to institutional and individual clients. Revenue generated through advisory fees based on assets under management/advisement.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Cornerstone Advisors Asset Management is an independent investment consulting firm providing institutional consulting and individual wealth management advisory services to institutions and wealthy families. The firm offers OCIO (Outsourced Chief Investment Officer) services, retirement plan consulting, investment policy statement development, manager selection, portfolio construction, governance support, performance reporting, and philanthropic/charitable giving strategies. It manages $9.5 billion in assets as of December 31, 2025.

Product overview

Cornerstone Advisors Asset Management is a single-service investment advisory firm offering institutional consulting and individual financial advice. The firm provides OCIO (Outsourced Chief Investment Officer) services, retirement plan consulting, and philanthropic services including charitable gift annuities and donor-advised funds. The company operates as a diversified financial advisory practice rather than a multi-product technology platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Institutional Consulting Investment consulting for institutions including foundations, endowments, and pension plans, covering manager selection, portfolio construction, investment policy statement development, governance support, and performance reporting.
• Individual Advice Investment advice and wealth management services for high-net-worth individuals and families, including portfolio management, retirement planning, and estate planning.
• OCIO (Outsourced Chief Investment Officer) Services Delegated fiduciary investment management service in which Cornerstone assumes discretionary responsibility for institutional investment portfolios, allowing clients to outsource CIO functions.
• Retirement Plan Consulting Advisory services for corporate retirement plan sponsors, including plan governance, fiduciary support, investment selection and monitoring across multiple providers, and participant education. Jennifer Bauder manages 150 retirement plans across 18 providers with more than $3 billion in total assets.
• Philanthropic Services and Charitable Planning Planned giving and philanthropic advisory for individuals and not-for-profit clients, including charitable gift annuities, donor-advised funds, customized insurance strategies, and planned giving program design for charitable entities.

Quantifiable outcome

• 97% client retention rate demonstrates strong satisfaction and long-term relationship success
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• SalesforcecoreTechnology or Integration · 24 May 2026Cornerstone Workforce AI has expanded AI-powered integrations with Salesforce's Agentforce platform and Slack. This integration enables real-time, no-code integration of governed data and AI agents, positioning Cornerstone as part of Salesforce's open, automation-native ecosystem for AI agents.
• Logical Pictures GroupminorChannel Partner/ Reseller/ Distributor · 29 April 2026Cornerstone and Logical Pictures Group will handle international sales and distribution for the psychological thriller film 'Foxfinder.' This partnership represents a film distribution and sales agent relationship.
• M Financial GroupcoreOthers · 31 March 2026Cornerstone Institutional Investors, LLC is a member of M Financial Group, an independently owned and operated network of financial advisory firms.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• NEPC: Independent investment consulting firm providing OCIO, asset allocation, and manager research to institutions. Directly comparable OCIO/institutional consulting model with similar client segments.
• Verus: OCIO provider and institutional investment consulting firm serving public entities, endowments, foundations, and corporate plans. Similar mid-sized, employee-oriented consulting model.
• Marquette Associates: Independent investment consulting firm focused on institutional OCIO for foundations, endowments, and corporate plan sponsors. Closely aligned business model and client mix to Cornerstone.
• Cambridge Associates: Investment advisor serving endowments, foundations, and private investors with OCIO and discretionary portfolio management. Comparable high-touch institutional consulting franchise with similar fiduciary orientation.
• Meketa Investment Group: Independent OCIO and investment consulting firm serving institutional clients including endowments, foundations, and pension plans. Highly comparable in business model, target market, and service offering to Cornerstone's institutional consulting practice.
• Segal Marco Advisors: Investment consulting subsidiary of Segal Group focused on retirement plans, endowments, and foundations. Comparable institutional consulting franchise with similar fiduciary, plan-sponsor orientation.
• Mercer Advisors: National RIA providing wealth management and institutional consulting with OCIO capabilities. Comparable in combining HNW wealth management with institutional advisory services, though significantly larger scale.
• RVK, Inc. Independent institutional investment consulting firm providing OCIO and manager research to public and corporate pension plans, endowments, and foundations. Directly comparable consulting-led model.

Broad incumbents

• Russell Investments: Large global investment manager and OCIO provider with institutional consulting capabilities. Competes for institutional OCIO mandates but offers a much broader, multi-product platform.
• Aon (Investment Solutions): Global professional services firm with a large investment consulting and OCIO practice serving institutions. Overlaps with Cornerstone's institutional consulting offering but operates at much larger scale as part of a broader portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cornerstone-advisors-asset-management-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cornerstone