Steward Partners Named to InvestmentNews Top Hybrid RIA

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Steward Partners Global Advisory Group

Oct 16, 2023, 10:07 ET

As it celebrates its 10^th Anniversary, Steward ranks twenty-first out of more than 1,500 firms

NEW YORK, Oct. 16, 2023 /PRNewswire/ -- Steward Partners Global Advisory, LLC, an employee-owned, full-service independent partnership, has placed in the #21 spot on the InvestmentNews inaugural ranking of the Top Hybrid RIA firms. Since its founding in 2013, Steward Partners has grown to include more than 200 independent advisors in 40 offices located from coast to coast with approximately $30 billion in assets under advisement (AUA) as of June 30, 2023.

"Steward Partners is currently celebrating our 10^th anniversary as a firm and we are extremely proud of what our partners have accomplished in such a short time and appreciate this recognition from InvestmentNews," said Jim Gold, CEO and Co-Founder of Steward Partners. "Steward Partners was created to give independent wealth managers control of their businesses and a stake in something larger. The hard work our partners put in every day on behalf of their clients has brought us to this point and will continue to fuel our growth going forward."

Steward Partners' equity partnership business model and client-first attitude have made it consistently one of the fastest-growing RIA firms over the past 10 years. Recently, the firm ranked in the nineteenth spot on Barron's eighth annual ranking of independent registered investment advisor (RIA) firms, marking its fourth consecutive year on the list.

Additional recognition awarded this year includes having 15 wealth managers named to the Forbes 2023 List of Best-In-State Wealth Advisors, an annual list spotlighting more than 7,000 advisors who are researched, interviewed, and assigned a ranking based on an algorithm of qualitative and quantitative criteria. Two Steward Partners wealth managers were also included on Forbes America's Top Women Wealth Advisors Best-In-State List 2023, and another named to Forbes Top Next-Gen Wealth Advisors Best-In-State 2023, as well as three wealth managers named to AdvisorHub's 2023 Advisors to Watch List, two on 200 Fastest Growing Advisors to Watch and one on 100 Advisors to Watch - Under 1 billion.

In creating its list of Top Hybrid RIA firms, InvestmentNews looked at data reported on the Securities and Exchange Commission's Form ADV by 1,578 firms headquartered in the United States. Qualifying firms needed to meet the following stringent criteria: (1) latest ADV filing date is either on or after July 1, 2022, (2) total AUM is at least $100M, (3) managed assets for U.S. household clients during its most recently completed fiscal year, with at least one advisor per 500 clients, (4) no more than 50% of amount of regulatory assets under management is attributable to pooled investment vehicles (other than investment companies), (5) no more than 25% of amount of regulatory assets under management is attributable to pension and profit-sharing plans (but not the plan participants), (6) no more than 25% of amount of regulatory assets under management is attributable to corporations or other businesses, (7) provides financial planning services, (8) is not actively engaged in business as a broker-dealer (registered or unregistered), and (9) is not actively engaged in business as a registered representative of a broker-dealer. Neither Steward Partners nor its Wealth Managers pay a fee to InvestmentNews in exchange for the ranking.

The complete list of InvestmentNews Topy Hybrid RIAs 2023 can be found here.

About Steward Partners Global Advisory
Representing some of the U.S.'s top advisors, Steward Partners is a full-service, employee-owned, independent financial services firm that offers wealth management solutions for families, businesses, and multigenerational investors. Established in 2013, the company fosters a positive, transparent culture of camaraderie and excellence that has fueled its substantial growth in a highly competitive industry. With its commitment to exceptional client service and forward-thinking partnerships, the company was ranked as one of Barron's Top 100 RIAs for the years 2020-2023. Offering services such as comprehensive wealth planning, private banking, institutional consulting, international advisory, and business solutions, the firm was responsible for approximately $30 billion in client assets as of August 2023. To learn more about Steward Partners Global Advisory, visit www.stewardpartners.com.

Securities and investment advisory services are offered through Steward Partners Investment Solutions, LLC, registered broker/dealer, member FINRA/SIPC, and SEC-registered investment adviser. Investment Advisory Services may also be offered through Steward Partners Investment Advisory, LLC, an SEC-registered investment adviser. Steward Partners Investment Solutions, LLC, Steward Partners Investment Advisory, LLC, and Steward Partners Global Advisory, LLC are affiliates and separately operated.

Barron's Top 100 RIA Firms, 2020 / 2021 / 2022/ 2023. 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 Steward Partners nor its Wealth Managers pay a fee to Barron's in exchange for the ranking.

Source: Forbes.com Forbes Best-in-State Wealth Advisors ranking was developed by SHOOK Research and is based on in-person, virtual and telephone due diligence meetings to evaluate each advisor qualitatively, a major component of a ranking algorithm that includes: client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including: assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research, LLC and are not indicative of future performance or representative of any one client's experience. Neither Steward Partners Investment Solutions, LLC nor its Wealth Managers pay a fee to Forbes or SHOOK Research in exchange for the ranking. For more information, see www.SHOOKresearch.com.

Source: Forbes.com . SHOOK considered advisors born in 1983 or later with a minimum 4 years as an advisor. Advisors have: built their own practices and lead their teams; joined teams and are viewed as future leadership; or a combination of both. Ranking algorithm is based on qualitative measures: telephone and in-person interviews, client retention, industry experience, credentials, review of compliance records, firm nominations; and quantitative criteria, such as: assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research, LLC, and are not indicative of future performance or representative of any one client's experience. Neither Steward Partners Investment Solutions, LLC nor its Wealth Managers pay a fee to Forbes or SHOOK Research in exchange for the ranking. For more information, see www.SHOOKresearch.com.

About SHOOK Research
SHOOK is completely independent and objective and does not receive compensation from the advisors, firms, the media, or any other source in exchange for placement on a ranking. SHOOK is funded through conferences, publications and research partners. Since every investor has unique needs, investors must carefully choose the right advisor for their own situation and perform their own due diligence. Rankings are based on the opinions of SHOOK Research, LLC and not indicative of future performance or representative of any one client's experience; the firm's research and rankings provide opinions on how to choose the right financial advisor. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Remember, past performance is not an indication of future results.

For more information and complete details on methodology, go to www.shookresearch.com.

About AdvisorHub
AdvisorHub is a leading online resource and community for financial advisors, providing news, insights, and industry information to support advisors in their professional growth and success. The Fast-Growing Advisors to Watch List is an annual recognition that celebrates advisors who have demonstrated exceptional growth and professionalism within the wealth management industry.

AdvisorHub's 200 Fastest Growing Advisors to Watch and 100 Advisors to Watch – Under $1 Billion
is an annual recognition that celebrates advisors who have demonstrated exceptional growth and professionalism within the wealth management industry. The rankings were developed by AdvisorHub and are based on Scope of practice measured by assets, production, and level of service; Growth of practice consisting of year-over-year growth in assets, households, and production; and lastly, Professionalism which includes regulatory record, community service, and team diversity. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of AdvisorHub and are not indicative of future performance or representative of any one client's experience. Participation is open to all firms and advisors. Nominees are required to have a minimum of seven years-experience, $100m minimum AUM, and a clean regulatory record. Using data on assets, households, and production, we rank advisors on three categories: scale, growth, and professionalism.

Source: AdvisorHub.Com. AdvisorHub 100 Advisors to Watch (Under$1B) ranking was developed by AdvisorHub and is based on Scope of practice measured by assets, production and level of service; Growth of practice consisting of year over year growth in assets, households and production; and lastly, Professionalism which includes regulatory record, community service and team diversity. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of AdvisorHub and are not indicative of future performance or representative of any one client's experience. These 100 advisors have assembled efficient and productive teams that have achieved scale without compromising their level of service while maintaining healthy growth. Neither Steward Partners Investment Solutions, LLC nor its Wealth Managers pay a fee to AdvisorHub in exchange for the ranking. For more information, see www.AdvisorHub.com.

Scale, is the traditional metric used in most rankings. It's essentially the size of the business and its profitability. We also considered staffing, clientele, and several other factors. This in aggregate provides a snapshot of the size and sophistication of a practice. Neither Steward Partners Investment Solutions, LLC nor its Wealth Managers pay a fee to AdvisorHub in exchange for the ranking. For more information, see www.AdvisorHub.com.

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SOURCE Steward Partners Global Advisory Group