HomeWealth ManagementSteward Companions' Jim Gold on Why Supported Independence Is Thriving

Steward Companions’ Jim Gold on Why Supported Independence Is Thriving


Jim Gold first visited our present again in March 2019. On the time, Steward Companions was simply over 5 years outdated and already thought-about successful with 104 advisors in 17 workplaces and $10.9 billion beneath administration whereas nonetheless working beneath the Raymond James Unbiased Contractor Platform.

At this time, simply three-and-a-half years later and with lower than a decade beneath its belt, Steward is managing some $27 billion in property with 350 companions, 200 of that are monetary advisors, in 30 areas all through the USA.

Plus, Steward has expanded its custodial choices—making headlines as one of many first to signal on to the Goldman Sachs custodial platform —and the agency now presents a 1099 possibility in addition to its authentic W-2 path.

On this episode, Jim discusses the evolution of Steward Companions with Louis Diamond, together with:

  • The hole within the panorama that Steward first sought to fill—and the way the agency’s objectives and worth proposition have grown over time.
  • The selection to maneuver off the Raymond James Unbiased Contractor Platform—and the way that impacted its capability to broaden choices for advisors.
  • Breaking new floor with the Goldman Sachs custody platform—and the way Steward’s custody choices have made the agency extra enticing to a broader swath of advisors.
  • The elements across the agency’s extraordinary progress—and the way the agency gained unbelievable traction over latest years.
  • The worth of fairness vs. money—and what advisors contemplating Steward must know in regards to the economics.
  • Plus, Jim shares his ideas on a really advanced impartial house—and what advisors related to Steward can do this they may not beneath a wirehouse umbrella.

Simply because the wealth administration panorama has advanced, so have comparatively younger corporations like Steward Companions. Lower than a decade in the past, it created a agency that took a “frequent sense” method, as Jim put it, to supply advisors a mix of what labored within the giant corporations and people issues advisors lacked, including in higher freedom and management. And Steward’s progress over time is a testomony to the system’s success.

It’s an episode that demonstrates the evolution of the impartial house—providing an insider’s perspective on change within the panorama at giant.

Obtain a transcript of this episode…

Hearken to extra episodes of Mindy Diamond on Independence: A Podcast for Monetary Advisors Contemplating Change.

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