Steward Partners Completes Umpqua Investments Acquisition

Deal Adds $3.4 Billion in Client Assets and 22 Advisors to Partnership and Expands Reach to West Coast

News provided by

Steward Partners Global Advisory Group

Apr 23, 2021, 13:00 ET

WASHINGTON, April 23, 2021 /PRNewswire/ -- Steward Partners Holdings, LLC an employee-owned, full-service independent partnership, has closed on its acquisition of Umpqua Investments Inc., a registered broker dealer and registered investment adviser, from Umpqua Holdings Corporation (NASDAQ: UMPQ). The entity has been renamed Steward Partners Investment Solutions, LLC. The acquisition marks Steward Partners' planned expansion into the Pacific Northwest and will add 22 financial advisors managing $3.4 billion in client assets generating $15 million in revenue and raises Steward Partners' total client assets under management to more than $22 billion.

"Our goal since launching Steward Partners has been to build a company with a nationwide presence," said Jim Gold, Steward Partners CEO. "With the closing of our acquisition of Umpqua Investments, we've established a firm foothold on the West Coast and look forward to building further on that momentum."

All of the clients of Umpqua Wealth Management will now be part of Steward Partners. Steward is also looking forward to an ongoing referral partnership with Umpqua Bank.

"We spent countless hours ensuring the transition goes smoothly," said Eric Field, newly appointed Divisional President of the West Coast for Steward Partners. "The enthusiasm from the field to become a Steward Partner is truly amazing. Advisors and their teams can't wait to tap into all the resources Steward Partners has to offer."

Every employee previously with Umpqua Investments will now enjoy the infrastructure and platform available to all Steward Partners. In addition to enhanced tools and services for advisors and clients, all new Partners will also be awarded units in the partnership.

"This acquisition represents a major step forward in our long-term goal of positioning Steward Partners as the destination of choice for established advisors who want to grow their own businesses while being part of a much larger entity," commented Hy Saporta, President and Chief Operating Officer, Steward Partners Global Advisory. "The advisors joining Steward as part of the Umpqua Investments team share our vision of the future and come from a culture that aligns with our own."

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.

Goodwin Procter LLP was Steward Partners legal advisors on the deal. Umpqua Bank was advised by the asset and wealth management investment banking team of Raymond James throughout the course of negotiations, with Benesch Friedlander Coplan & Aronoff LLP serving as legal counsel.

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 $1.02 trillion as of 12/31/20.

Steward Partners Holdings, LLC and Steward Partners Global Advisory, LLC maintain a separate professional business relationship with, and our registered professionals offer securities through, Raymond James Financial Services, Inc., 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 Partner Investment Solutions, LLC is a registered broker dealer, registered investment adviser, and Member FINRA/ SIPC. Steward Partners Investment Solutions is 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.

Michaela Morales
JConnelly
(973) 224 -7152
[email protected]

SOURCE Steward Partners Global Advisory Group