Transactions mark latest addition to Steward's
Legacy Division, adding $480+ million in client
assets
NEW
YORK, April 18, 2024 /PRNewswire/
-- Steward Partners, a full-service, employee-owned,
independent financial services firm, announced today the
acquisitions of financial advisory firms Monaco Capital
and Saling Simms under Steward Partners' Freedom Street
merger. The two firms will add five advisors and a combined total
of $488 million in client assets to
Steward Partners' roster.
The acquisitions denote an expansion of the recently established
legacy model at Steward Partners, which was realized with the
firm's Freedom Street Partners acquisition and offers financial
advisors the capacity for growth along with a platform for business
transition. With Freedom Street Partners' integration, Monaco
Capital and Saling Simms advisors will become equity partners
and employees of Steward Partners.
Monaco Capital is based in Virginia
Beach, VA, and will bring their practice managing
$175 million in client assets to
Steward Partners. The acquisition marks the expansion of Steward's
Virginia Beach office, which has
been steadily growing since the Freedom Street Partners acquisition
in December of 2023.
Saling Simms's wealth management
business carries a network of four financial advisors managing
$314 million in client assets and
offers Steward Partners an avenue for expansion into the
Columbus, Ohio market, where the
firm will open its newest office. Saling Simms President
Jim Saling and Vice President
Brent Simms, who have a combined 70+
years of industry experience, will accompany their teams in joining
Steward Partners as part of this transition.
"The acquisition of both Monaco Capital and Saling Simms marks another step in our
commitment to deliver excellence to our advisors, partners, and
clients through our legacy model," said Jim Gold, CEO and Co-Founder of Steward
Partners. "Since establishing the model last December, we have
seen tremendous growth in our already successful business, and we
are excited to work alongside our new partners as we continue this
trajectory."
According to Freedom Street Partners' CEO Scott Danner, who
aided in the transition of the two firms into the Steward Partners'
network, the acquisition was a testament to Steward Partners'
commitment to providing comprehensive offerings for advisors and
greater value for clients.
"The teams at these two respective firms have spent their entire
careers shouldering the financial burden of their clients. Our goal
at Steward is to shoulder it for them, ensuring smooth continuity
as these advisors transition into the next chapter of their careers
and their clients into the next phase of their lives," said
Scott Danner, CEO of Freedom
Street Partners. "This acquisition is a testament to Steward
Partners' standing as an industry leader, our firm's breadth of
expertise and the strength of our leadership team that continues to
propel us forward. I have no doubt that this will be a smooth
transition for everyone involved."
This news follows Steward Partners' acquisition of Freedom
Street Partners, which closed on December
19, 2023, and was fully transitioned into Steward Partners
on March 15, 2024.
About Steward Partners
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 firm 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 firm was ranked as
the #19 RIA in the country in Barron's Top 100
RIAs for the year 2023. Offering services such as comprehensive
wealth planning, private banking, institutional consulting,
international advisory, and business solutions, the firm was
responsible for over $32 billion in client assets as
of January 2024.
To learn more about Steward Partners,
visit www.stewardpartners.com.
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 any of its Financial
Advisors pay a fee in exchange for this award/rating. Barron's is
not affiliated with Steward Partners.
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.
Media Contact:
Zachary Allegretti
II JConnelly
zallegrettiii@jconnelly.com
973.850.7341
View original content to download
multimedia:https://www.prnewswire.com/news-releases/steward-partners-announces-monaco-capital-and-saling-simms-acquisitions-sustaining-rapid-firm-expansion-302120507.html
SOURCE Steward Partners