Steward Partners Welcomes its First Billion Dollar Plus Team into their 1099 Model in St. Louis

Rhea-AI Summary

On June 17, 2020, Steward Partners Global Advisory announced the addition of the Plaza Advisory Group, its first affiliate advisor team in St. Louis. This team, founded in 1985, manages $1.2 billion in client assets and joins under Steward's new 1099 affiliate model, which grants advisors independence while providing extensive firm support. The move highlights Steward's commitment to offering a flexible and empowering environment for financial advisors, catering to varying needs in the wealth management landscape.

Positive

• Addition of Plaza Advisory Group managing $1.2 billion in client assets enhances Steward's market position.
• Introduction of the 1099 affiliate model offers advisors greater autonomy while maintaining firm resources and support.

Negative

• None.

ST. LOUIS, June 17, 2020 /PRNewswire/ -- Steward Partners Global Advisory, LLC, an employee-owned, full-service independent partnership associated with Raymond James Financial Services, Inc. (member FINRA/SIPC), today announced that it has welcomed the Plaza Advisory Group, the firm's first affiliate advisor team in St. Louis, Missouri.    

The Plaza Advisory Group was founded in 1985 and is comprised of Tom Briggs, AIF®, Peter Dolan, Judy Rubin, CFP®, CDFA® and Scott Bensinger, CFS®, who each join Steward Partners as a Managing Director. The team collectively oversees $1.2 billion in client assets and is the first team to join Steward in its new 1099 affiliate model.  This model offers advisors, as self-employed independent contractors, the ability to run their own office and local P&L. 1099 advisors also enjoy all of the traditional benefits of being a Partner at Steward, including ongoing local compliance and operations support. Unlike many other firms,  Steward's new affiliate model also provides independent employees equity in the firm, just as it does to all full-time employees. The affiliate program was launched in October 2019 and came in response to increased advisor requests for local autonomy, coupled with the significant resources and equity opportunity that are unique to Steward Partners.

"We are thrilled to welcome the Plaza Advisory Group under the firm's new affiliate offering, something we believe truly highlights the flexibility and unique offering that Steward provides," said Chris Barton, Divisional President at Steward Partners. "We know that different advisors have different needs and ways of running their business, and we couldn't be happier to be able to provide a model which accommodates any advisor considering independence."

"When we first thought about the future of our team, maintaining a certain level of independence was something very important to us," said Peter Dolan. "Steward's unique model allows us to run our business the way we always have, while allowing us to leverage the firm's robust infrastructure, resources and tools which we believe will help us reach the next stage of our growth."  

Within their practice, The Plaza Advisor Group focuses on enhancing their clients' lives by helping them proactively plan for their future with wealth management, retirement planning, estate and tax planning and risk management. The team works with a variety of corporate executives, entrepreneurs, women, families, retirees and pre-retirees and as affiliates will continue to operate from their existing St. Louis office.   

"During turbulent times like these, it's important for us as advisors to remain focused on our clients and offer guidance to help them move towards their financial goals," added Tom Briggs. "We're excited to be part of a firm that understands this and prioritizes clients and empowers advisors, providing the necessary tools to operate at the highest level."

"Our clients mean the world to us and in order to best serve them, we are continuously seeking to expand and update our knowledge base and resources," said Judy Rubin. "Aligning with Steward Partners increases our capabilities to deliver financial services and life advice to the families whom we serve and having known some of Steward's leadership team for many years, this feels more like a homecoming than a move."

"This is an exciting day for Steward as we celebrate numerous milestones, said Jim Gold, CEO and Co- Founder. We celebrate our first Billion dollar plus addition, our first join in our 1099 offering as well as our first Independent hire. We couldn't think of a better group to do this with, welcome to our newest partners to the Steward family."

Tom Briggs has been in the financial services industry for over 35 years. He believes that understanding a client's situation is a key element of having a successful relationship with them and takes pride in providing a level of service that shows his personal commitment. Outside the office, he has previous experience serving as a board member for Boys Hope/Girls Hope and the Des Peres Board of Adjustment, Planning and Zoning Committee.

Peter Dolan brings more than 35 years of experience to the firm and focuses on working with affluent families, helping them develop an integrated approach to their finances. When not working with clients, he volunteers his time outside the office and serves as a board member of Regis University, helping oversee endowments, operations, and strategic planning for three colleges that serve 13,000 students.

Judy Rubin has over 30 years of experience in the financial services industry and previously worked at Morgan Stanley Private Wealth Management before transitioning to the Plaza Advisory Group in 2011. She places particular emphasis on helping clients develop wealth strategies with the goal of achieving financial independence. When not in the office, she serves a board member for Kids in The Middle and is a strong supporter of the Foundation for Barnes Jewish Hospital.

Scott Bensinger brings over 35 years of experience to Steward Partners and works with his clients by helping them plan and navigate through all of life's changes, with much of his experience stemming from having spent decades working with individuals in transition. He serves on the Board of the St. Louis Public Library Foundation, Randy's Rescue Ranch, and Human Resources Management Corporation and is an active volunteer at Stray Rescue, a St. Louis-based nonprofit.

For more information, visit www.stewardpartners.com.

About Steward Partners Global Advisory

With offices in Newtown, CT., Washington, D.C., Clearwater, FL., Andover and Boston, MA., Baltimore and Bethesda, MD., Portland, ME., St. Louis, MO., Hendersonville, NC., Keene, Manchester and Portsmouth, NH., Paramus and Morristown, NJ., Albany and New York City, NY., Plymouth Meeting, PA., Austin, Dallas and Houston, TX., and Norfolk and Richmond, VA., 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 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 8,100 financial advisors throughout the United States, Canada and overseas. Total client assets are approximately $896 billion as of 12/31/19.

Steward Partners Holdings, Steward Partners Global Advisory, LLC 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.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER TM, CFP®, (with plaque design) and CFP®(with flame design) in the U.S. which it awards to individuals who successfully complete the CFP Board's initial and ongoing certification requirements.

Media Contact:
Water & Wall
StewardPR@waterandwallgroup.com
212-343-2363

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SOURCE Steward Partners Global Advisory, LLC

FAQ

What significant event occurred on June 17, 2020, related to RJF?

On June 17, 2020, Steward Partners Global Advisory welcomed the Plaza Advisory Group as its first affiliate team in St. Louis, managing $1.2 billion in client assets.

What is the Plaza Advisory Group's role within Steward Partners?

The Plaza Advisory Group operates as an affiliate advisor team under Steward's new 1099 model, providing them with client autonomy and firm support.

How much client assets does the Plaza Advisory Group manage?

The Plaza Advisory Group manages $1.2 billion in client assets.

What does the 1099 affiliate model offer advisors at Steward Partners?

The 1099 affiliate model allows advisors to run their own offices and local P&L while receiving traditional Partner benefits and equity opportunities.