Steward Partners and Raymond James Update Custodial Relationship

Steward Partners Sets Stage for Multi-Custodial Offering

News provided by

Steward Partners Global Advisory Group

May 28, 2021, 13:14 ET

WASHINGTON, May 28, 2021 /PRNewswire/ -- Steward Partners Holdings LLC, an employee-owned full-service independent partnership, and Raymond James announced today that Steward Partners plans to transition its advisors to Raymond James' RIA and Custody Services (RCS) platform as soon as practicable following all necessary regulatory approvals. Since Steward Partners' inception almost eight years ago, the two firms have enjoyed a strong, mutually beneficial working relationship and look forward to continuing their association into the future.

Steward Partners' recent acquisition of Umpqua Investments included Umpqua's registered broker dealer, now called Steward Partners Investment Solutions, LLC, which will help fuel the firm's growth plans. The ability to transition advisors and teams to a multi-custodial business model will create new opportunities for Steward Partners. Umpqua's broker dealer leadership team and 22 advisors managing $3.4 B in client assets joined Steward Partners last month following the deal closing.

"Raymond James and Steward Partners have benefited by collaborating to drive our growth through recruiting with great success," said Jim Gold, Steward Partners CEO. "We founded the firm nearly eight years ago with the support of the senior leadership team at Raymond James. Today we have 173 Advisors managing over $22 billion in client assets in 27 offices throughout the country. We appreciate the strong support of Raymond James as we transition to the RCS channel and continue evolving our business model. We will announce additional custodial partners soon as we continue focusing on our growth strategies in the years to come."

"Transitioning to a multi-custodial model requires building out Steward's technology platform and partnership infrastructure," states Hy Saporta, Steward Partners' President and Chief Operating Officer. "Steward Partners, working with leading technology providers and consultants, is making a substantial investment of financial and firm resources to create an industry-leading advisor and client experience."

Scott Curtis, president of Raymond James' Private Client Group adds, "We're proud of our relationship with Steward Partners. Their impressive growth since inception significantly surpassed their original expectations and ours. Raymond James combination of full service resources, the integrated technology platform, and unique advisor-focused culture has been critical to Steward Partners' recruiting success over the past eight years. We look forward to continuing our relationship and supporting Steward's advisors and their clients for years to come."

Steward Partners is one of the country's fastest growing independent wealth management firms and ranked #24 on Barron's list of Top RIA's in 2020. Steward also has been named to InvestmentNews and Washington Business Journal's "Best Places to Work" lists.

About Steward Partners Global Advisory
With offices in Newtown, CT., Washington, D.C., Clearwater, FL., Andover and Boston, MA., Baltimore and Bethesda, MD., Portland, ME., St. Louis, MO., Hendersonville, NC., Keene, Manchester and Portsmouth, NH., Paramus and Morristown, NJ., Albany and New York City, NY., Conshohocken, PA., Austin, Dallas and Houston, TX., and Norfolk and Richmond, VA., Steward Partners Global Advisory, LLC, is an employee-owned, full-service independent partnership catering to family, institutional and multigenerational wealth. For more information, visit us at www.stewardpartners.com.

About Raymond James Financial Services, Inc.
Raymond James Financial Services, Inc. is a financial services firm supporting independent financial advisors nationwide. Since 1974, Raymond James Financial Services Inc., member FINRA/SIPC, has provided a wide range of investment and wealth planning related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both broker/dealers are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF) a leading diversified financial services company with approximately 8,200 financial advisors throughout the United States, Canada and overseas. Total client assets are approximately $1.09 trillion as of 3/31/21.

Steward Partner Investment Solutions, LLC member FINRA/SIPC. Investment advisory services offered through Steward Partners Investment Advisory, LLC, 1776 I Street NW, Suite 700, Washington, DC 20006. Toll Free: (844) 801-8268.

Steward Partners Holdings, LLC and Steward Partners Investment Solutions, LLC are independent of Raymond James.

Barron's Top 100 RIA Firms, 2020. Barron's is a registered trademark of Dow Jones & Company, L.P. All rights reserved. Participation in this ranking is by invitation only and limited to firms that meet the minimum eligibility requirements. About 200 firms were nominated, with 100 being ranked. Participating firms were evaluated and ranked on a wide range of quantitative and qualitative data, including assets overseen by the firm, revenue generated by the firm, level of technology spending, number of clients, size of staff, diversity across staff, and placement of a succession plan. The ranking may not be representative of any one client's experience, is not an endorsement, and is not indicative of the advisor's future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award/rating. Barron's is not affiliated with Raymond James.

Investment News "2019 Top 50 Best Places to Work for Financial Advisers", April 2019. The Best Places to Work for Financial Advisers program is a national program managed by Best Companies Group. The survey and recognition program are dedicated to identifying and recognizing the best employers in the financial advice/wealth management industry. The final list is based on the following criteria: must be a registered investment adviser (RIA), affiliated with an independent broker-dealer (IBD), or a hybrid doing business through an RIA and must be in business for a minimum of one year and must have a minimum of 15 full-time/part-time employees. The assessment process is compiled in a two part process based on the findings of the employer benefits & policies questionnaire and the employee engagement & satisfaction survey. The results are analyzed and categorized according to 8 Core Focus Areas: Leadership and Planning, Corporate Culture and Communications, Role Satisfaction, Work Environment, Relationship with Supervisor, Training, Development and Resources, Pay and Benefits and Overall Engagement. Best Companies Group will survey up to 400 randomly selected employees in a company depending on company size. The two data sets are combined and analyzed to determine the rankings. The award is not representative of any one client's experience, is not an endorsement, and is not indicative of advisor's future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award. Investment News and/or Best Companies Group is not affiliated with Raymond James.

The 2020 Washington Business Journal BPTW honor is not awarded based on investment advisory services rendered. This ranking is not indicative of advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating.

SOURCE Steward Partners Global Advisory Group