Steward Partners Launches Multi-Custodial Business Model with Goldman Sachs

WASHINGTON and NEW YORK, June 16, 2021 /PRNewswire/ -- Steward Partners Global Advisory, LLC and Goldman Sachs Group Inc. announced today that Goldman Sachs will provide clearing, custody and other unique support to Steward Partners beginning later this year.

Steward Partners recently announced the launch of Steward Partners Investment Solutions (SPIS), a broker-dealer offering a multi-custodial business model to provide greater advisor investment choice and to further capitalize on the partnership's future growth opportunities.

Steward Partners will be Goldman Sachs' first strategic institutional client in its new custody business and will onboard Steward's assets acquired in the recent acquisition of Umpqua Investments.

Jim Gold, CEO of Steward Partners, said, "When we made the decision to expand our growth opportunities and increase the investment choices for our advisors by becoming multi-custodial, Goldman Sachs' reputation as an innovator and leader in the financial services industry was a key consideration for us. The ability to work with Goldman Sachs to further build out their custody platform while providing our advisors the opportunity to leverage the intellectual capital and investment platform of a storied institution like Goldman Sachs, is exciting."

Hy Saporta, President and COO of Steward Partners, noted, "Goldman has devoted tremendous resources to create digital solutions for many of the traditionally accepted manual work processes in our business which will dramatically shape the industry in the years to come. Their commitment to technology will benefit our advisors, staff and clients. It's truly exciting to see firsthand the work that the Steward and Goldman teams are doing together."

"Steward is a natural fit for our first large-scale relationship since deciding to enter the RIA custody business. Their track record of success and growth focus pair perfectly with the holistic platform that we are delivering," said Adam Siegler, who co-heads Goldman Sachs' custody business.

"We're thrilled to be working so closely with Steward as we continue to develop our offering for independent advisors. Their years of experience allow them to provide us with invaluable feedback as we expand our technology and product offering," said Cameron Brien, the business's other co-head.

Steward Partners, with 170 Advisors in 27 offices, is one of the fastest growing independent wealth management firms since its start just eight years ago. Steward ranked #24 on Barron's list of Top RIAs in 2020 and has been named to InvestmentNews and Washington Business Journal's "Best Places to Work" lists.

About Goldman Sachs

The Goldman Sachs Group, Inc. is a leading global financial institution that delivers a broad range of financial services across investment banking, securities, investment management and consumer banking to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

About Steward Partners Global Advisory

With offices in Fort Collins, CO., Newtown, CT., Washington, D.C., Clearwater, FL., Shreveport, LA., 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., McLean, 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.

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.

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.

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.

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.

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

Maeve DuVally
Goldman Sachs
212-902-2605
[email protected]

SOURCE Steward Partners Global Advisory Group