Steward Partners and Raymond James Expand into New Jersey, Open Newest Office in Paramus

WASHINGTON, Nov. 7, 2017 /PRNewswire/ -- Steward Partners Global Advisory, LLC, an employee-owned, full-service independent partnership associated with Raymond James Financial Services, Inc. (member FINRA/SIPC), announced today that Robert Baker, Managing Director, Edmund Iannaccone, Managing Director, Paul Sarama, Senior Vice President, and Theodore Larson, Managing Director, have joined Steward Partners from Wells Fargo, where they managed approximately $400 million in client assets. Baker, Iannaccone and Sarama, operate as The Baker Iannaccone Sarama Financial Consulting Group and together with Larson, will launch Steward Partners' newest office in Paramus, New Jersey. Year-to-date, Steward Partners has added over $3 billion in recruited assets under management and 27 new wealth managers.

With its new Paramus location, Steward Partners now has twelve offices in six states and the District of Columbia. The firm, which utilizes Raymond James' platform and support services, is on pace for another record year, with new partners joining in all twelve locations. Steward's rapid expansion establishes it as one of the fastest-growing full-service independent partnerships in the country.

"The announcement of Steward's twelfth location, and four new branches added in this year alone, marks another amazing milestone for the partnership," said Steward Partners' CEO, Jim Gold. "We continue to see the company grow in affluent markets, mainly because of the demand we are receiving from highly developed teams in those markets. Advisors across the country have found Steward's model increasingly attractive."

STEWARD MAINTAINS STRONG MOMENTUM THROUGH 2017

"We are thrilled to launch our Paramus office with such an excellent group of advisors," said Steward Partners' President, Hy Saporta. "We are expanding in both new and existing markets, and we are adding some remarkable talent along the way. In addition to growing our wealth management team, we have been expanding our reach into international advisory, corporate and executive consulting, succession planning and investment advisory (RIA) capabilities. We doubled the size of our firm in 2016, and we've nearly doubled it again in 2017, all while remaining focused on hiring great people who also run great businesses. We are already looking to do the same in 2018."

"Steward's model provides us with the traditional capabilities of a wealth management firm and the investment advisory capabilities of an RIA," said Baker. "We looked at all of our options and weighed each one carefully, considering which would be best for our clients. In the end, independence had so many advantages over traditional firms that it was the obvious route, but what wasn't so obvious was which independent firm to choose. As we learned more about the resources, management team and firm culture at Steward Partners and Raymond James, our decision became clear."

"We're excited to join the Steward family and to become partners in the new Paramus office," said Iannaccone. "Our paramount consideration in deciding to move was having the freedom and flexibility to manage our clients' wealth. Being able to utilize either a wealth management or advisory approach means that their interests come first." 

"Our clients' interests were key to our decision to become more independent in our businesses' development and expansion, without being overwhelmed with the day-to-day activities of running a company," added Sarama. "Steward Partners, with the support and platform of Raymond James, offers the perfect combination of resources and independence, which made this decision the right choice for our clients, our businesses and our families."

"I've spent my entire professional life at the wirehouse firms," said Larson. "I've watched the industry make a significant shift to independence and realized that it's the future of wealth management. Steward's model provides me with both the independence and the infrastructure to do what is in the best interests of my clients."

Since November 2013, Steward Partners has added over 70 advisors with nearly $58 million in trailing 12-month production and over $7.75 billion in assets under management. Earlier this year, Steward Partners announced the opening of the firm's ninth, tenth and eleventh locations, in Clearwater, Fla., Boston and Baltimore respectively.

About Steward Partners Global Advisory

Headquartered in Washington, D.C., with additional offices in Albany, N.Y., Andover and Boston, Mass., Baltimore and Bethesda, Md., Clearwater, Fla., Keene, Manchester and Portsmouth, N.H., and New York City, 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 more than 3,900 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 7,300 financial advisors in 3,000 locations throughout the United States, Canada and overseas. Total client assets are $693 billion.

Steward Partners Holdings, Steward Partners Global Advisory, LLC and The SMH Capital Group 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.

Press Contact:

Gregory Banasz
202-930-6008
[email protected]

SOURCE Steward Partners Global Advisory, LLC

Related Links

http://www.stewardpartners.com