Steward Partners Global Advisory Unveils Game-Changing Model for Financial Advisors

Nov 06, 2013, 10:20 ET from Steward Partners Global Advisory, LLC

WASHINGTON, Nov. 6, 2013 /PRNewswire/ -- A group of leading financial executives formerly from Morgan Stanley, Smith Barney, Citigroup, Merrill Lynch and Legg Mason, today announced the establishment of Steward Partners Global Advisory, LLC, an employee-owned, full service partnership catering to family, institutional and multi-generational wealth.

While Steward Partners was created to support advisors at all stages of their careers, one timely issue the firm has already tackled is the baby-boomer brokerage retirement wave. This has become one of the more glaring concerns in the industry today, and one that Steward Partners is focused in clarifying and resolving with its innovative model.

"With the average age of a financial advisor now over 60, and the massive wave that represents, our industry is facing a major crisis which has not been addressed to the complete satisfaction of advisors and their clients," said Michael Maurer, founding partner and chief executive officer, and most recently a Morgan Stanley Smith Barney managing director. "Advisors are demanding a more comprehensive solution which provides greater diversification of retirement income with the flexibility required to help ensure their business stays intact and their clients are in good hands."

Steward Partners' differentiated, industry-leading retirement package includes:

  • Retire with one of the most generous financial packages offered today
  • Provide advisors a customized approach to meet their teams' needs
  • Continue advising former team in "Of Counsel" retirement status with a flexible schedule
  • Eligible to receive 100% medical coverage, up to seven years after retirement
  • Eligible to sell equity stake or receive dividends, up to seven years after retirement

"We are in the final stages of negotiations with several financial advisors and their respective teams and are expecting to have a significant number join Steward Partners by year-end 2013, in addition to the group we have established in our Washington, DC headquarters," said Jim Gold, founding partner and president of Steward Partners. Mr. Gold was most recently an executive director at Morgan Stanley Smith Barney.

The Steward Partners model is a game-changer for financial advisors that features:

  • All advisors are equity owners in Steward Partners
  • All advisors are eligible to participate annually in a profit sharing program provided by the firm
  • All full-time employees are eligible to receive 100% medical coverage
  • All advisors are supported by a structured, proprietary referral network whereby Steward Partners' management and its Board of Directors are held accountable to specific "assets referred to advisor" targets.

In order to provide its financial advisors and their clients with cutting edge technology, complete with the all-inclusive full service platform required, which is global in reach, but backed by an organization grounded in a culture of caring, Steward Partners formed a strategic partnership with Raymond James Financial Services.

"We are delighted to partner with such an accomplished group," said Scott Curtis, President of Raymond James Financial Services, "and we look forward to their continued success as qualified advisors become aware of their innovative model. They did their homework and elected to partner with Raymond James – highly valuing our firm's clients-first culture, financial strength, and extensive support resources."

Steward Partners is limiting its footprint to 50-60 partners across six offices along the Northeast Corridor, from Boston to Washington, DC.

For more information, visit

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