Steward Partners Announces Former Citigroup, Smith Barney, Morgan Stanley Executive Hy Saporta Has Joined As COO

WASHINGTON, Feb. 10, 2014 /PRNewswire/ -- Steward Partners Global Advisory LLC, an employee-owned, full service partnership catering to family, institutional and multi-generational wealth, announced today that Hy Saporta has been named Chief Operating Officer and Managing Director.  Mr. Saporta is a founding partner and will report to Mike Maurer, CEO of Steward Partners.

"Given our rapid growth since inception (90 days ago), we realized we had a tiger by the tail, and needed a seasoned executive who understands the intricacies involved in expanding operations," said Mike Maurer, chief executive officer and founding partner of Steward Partners.  The firm has opened three offices in less than 90 days and is planning additional office openings in 2014.

Most recently, Mr. Saporta was chief operating officer for Citigroup's Global Learning and Development division responsible for overall business operations servicing 250,000+ employees globally.  Prior to Citigroup, Mr. Saporta was a managing director at Morgan Stanley Smith Barney and a member of the firm's management committee.  He was responsible for building out the Client and Field Experience program, focused on internet strategy and user engagement, the new account opening experience, performance reporting, client communications and client service metrics.  His advisor-facing responsibilities included the Field Services Group, a support network dedicated to guiding financial advisors through a vast array of products, services and technology.  

"We are experiencing a tremendous volume of interest from advisors," said Jim Gold, president of Steward Partners, "We knew we needed someone with Hy's experience and skill set to keep the operations running smoothly, and our concierge client experience functioning at the highest level while we respond to the field."

"I have long recognized that the wealth management industry was in the midst of a massive change," said Hy Saporta, chief operating officer of Steward Partners. "When I heard about the firm, I looked at the model and realized it would be transformative for our industry."

Mr. Saporta will be responsible for creating the ultimate client service experience at Steward Partners while overseeing business management, technology, human resources, finance and operations. His expertise will ease advisor transitions and enhance client interactions. Under Mr. Saporta's leadership, Steward Partners vows to make advisor offerings the best in the industry, promising to avoid many of the pitfalls that new firms have stumbled over while their operational capabilities catch up with their growth.

About Steward Partners Global Advisory

Headquartered in Washington, DC with additional offices in Andover, MA and Portsmouth, NH, Steward Partners Global Advisory, LLC is an employee-owned, full service partnership catering to family, institutional and multi-generational wealth.  Steward Partners formed a strategic relationship with Raymond James in order to provide its financial advisors and their clients with cutting edge technology, complete with an all-inclusive full service platform that is global in reach, but backed by an organization grounded in a culture of caring.  Steward Partners is limiting its footprint to 50-60 partners across six offices from Boston to Washington, D.C.  Founding partners of the firm hail from Morgan Stanley, Smith Barney, Citigroup, Merrill Lynch, and Legg Mason.  For more information, visit us at www.stewardpartners.com.

About Raymond James Financial Services

Raymond James Financial Services, Inc. is a financial services firm supporting more than 3,200 independent financial advisors nationwide. Beginning in 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 financial services holding company with more than 6,200 affiliated financial advisors serving approximately 2.5 million individual, family and corporate accounts throughout the United States, Canada and overseas. In addition, total client assets are approximately $447 billion.

Steward Partners Global Advisory, LLC maintains a separate professional business relationship with, and our professionals offer securities through Raymond James Financial Services, Inc., member FINRA/SIPC. 1000 Connecticut Ave., N.W., 9th Fl. Suite 930 Washington D.C. 20036 - Toll Free: (855) 414-3140.

SOURCE Steward Partners Global Advisory, LLC