Cobblestone Wealth Advisors

Cobblestone functions as an outsourced chief investment office rather than a traditional brokerage or private bank. It builds and manages institutional-style portfolios of external managers across private and public markets, charging a single advisory fee on assets rather than earning commissions on products sold.

Cobblestone invests through external fund managers. The firm underwrites and selects private equity, real estate, hedge fund, and private credit funds on behalf of its client families, rather than making direct investments into companies or properties.

Todd Millay, a Managing Director, oversees investment decisions and client relationships. The firm operates with a high-touch model where the principal is directly involved in portfolio construction and manager selection for each family.

The firm sources managers through its principal's network and direct due diligence efforts, evaluating strategies the way an institutional endowment would. It does not rely on third-party platforms or paid placement agents, which helps maintain an unconflicted posture.

Cobblestone primarily commits through commingled funds rather than pursuing co-investments or direct deals. The firm's model emphasizes diversified exposure and manager selection over deal-by-deal underwriting.