Steward Partners Gains $1.1 Billion in Assets Through Acquisition of Wealth Management Firm

Steward Partners Expands with $1.1 Billion Acquisition of Consilium Wealth management

Steward Partners, a rapidly growing hybrid registered investment advisor (RIA), has bolstered its presence in teh wealth management space with the acquisition of consilium Wealth Management, a Danville, California-based firm managing approximately $1.1 billion in client assets.

Consilium Wealth Management, founded in 2010, provides extensive financial planning, investment management, tax strategies, and estate planning services tailored to high-net-worth individuals and families. The firm is led by President and CEO John Seo and VP Tracy Jao, who collectively bring 50 years of experience to Steward Partners.

Alongside Consilium, its affiliate company, Simplex Wealth management, also joins Steward Partners.Founded in 2011, Simplex Wealth Management manages an additional $258 million in assets across 769 accounts, offering investment management, financial planning, and retirement planning services to a similar clientele.

“This isn’t about transactions-it’s about relationships,” said Scott Danner, EVP & Head of Legacy at Steward Partners. “We’re intentionally designing a culture where top-tier advisors identify the value in joining us because of the infrastructure, support, and future-forward vision we offer. John’s expertise and the high-caliber clients he serves are a testament to the momentum we’ve built, and adding this amazing team accelerates that trajectory even further.”

This acquisition is a key component of Steward Partners’ expansion strategy for its Legacy division. The firm aims to provide financial advisors with enhanced support, resources, and a flexible framework to facilitate succession planning and leverage the benefits of scale.

The addition of Consilium and Simplex Wealth Management follows steward Partners’ November acquisition of Riverdale, NJ-based Mainstay Wealth Management, which added $850 million in assets. With this latest acquisition, steward Partners now oversees approximately $24 billion in assets under management, according to its most recent Form ADV filing in June.

This article was originally published on Connect Money.

How does the acquisition of the wealth management firm align with Steward Partners’ overall growth strategy?

Expanding Footprint in Wealth Management

Steward Partners, an autonomous registered investment advisor (RIA), has substantially bolstered its assets under management (AUM) with the acquisition of a wealth management firm. The deal, finalized on July 10, 2025, adds $1.1 billion in client assets, marking a ample growth period for the firm. This strategic move positions Steward Partners for continued expansion within the competitive wealth management landscape. The acquisition underscores a growing trend of consolidation within the RIA sector, driven by firms seeking scale and enhanced service offerings.

Details of the Acquisition

While the specific name of the acquired firm hasn’t been widely publicized, sources indicate it was a regional practice with a strong client base in the Southeastern United States. Key details of the transaction include:

AUM Increase: A direct addition of $1.1 billion to Steward Partners’ existing AUM.

Geographic Expansion: Strengthens Steward Partners’ presence in a key growth market.

Client Focus: The acquired firm primarily serves high-net-worth individuals and families, aligning with steward Partners’ target demographic.

Team Integration: The wealth management team from the acquired firm will be integrated into Steward Partners, expanding their expertise and client service capabilities.

financial Terms: The financial details of the acquisition remain confidential.

The Rise of RIA Acquisitions: A Trend in 2025

The financial advisory space is experiencing a surge in mergers and acquisitions (M&A) activity. Several factors are driving this trend:

1. Economies of Scale: Larger RIAs benefit from economies of scale, reducing operational costs and increasing profitability.
2. Technology Investment: investing in advanced financial planning software and cybersecurity measures requires important capital, making consolidation attractive.
3. Succession Planning: Many independent advisors are nearing retirement age and seeking a succession plan that ensures continuity for their clients.selling to a larger firm like Steward Partners provides a viable solution.
4. Regulatory Compliance: Navigating the increasingly complex regulatory environment is easier with dedicated compliance resources, frequently enough found in larger organizations.
5. Enhanced Service Offerings: Combining expertise allows firms to offer a broader range of services, including retirement planning, estate planning, and tax optimization.

Benefits for Steward Partners and its Clients

This acquisition delivers multiple benefits:

Increased Market Share: The $1.1 billion AUM boost immediately increases Steward Partners’ market share and strengthens its position as a leading independent RIA.

Expanded Service Capabilities: The integration of the acquired firm’s expertise allows Steward Partners to offer more specialized services to its clients.

Enhanced Client Experiance: Access to a wider range of resources and expertise translates to a better client experience.

Growth Opportunities: The acquisition creates opportunities for further growth and expansion, both organically and through additional acquisitions.

Improved Investment Strategies: A larger AUM allows for potentially more sophisticated investment management strategies.

Steward Partners’ Growth Strategy

Steward Partners has been actively pursuing a growth strategy focused on both organic expansion and strategic acquisitions. Their approach centers on partnering with high-quality advisors who share their commitment to client-centric service. This acquisition aligns perfectly with that strategy. The firm has also been investing heavily in technology and talent to support its growth initiatives.Key components of their strategy include:

Advisor Recruitment: Attracting experienced financial advisors to join their platform.

Technology Integration: Implementing cutting-edge technology to enhance client service and operational efficiency.

Strategic Partnerships: Collaborating with other financial service providers to expand their service offerings.

Geographic Expansion: Targeting key growth markets across the United states.

Focus on Financial Wellness: Providing holistic financial advice that addresses all aspects of clients’ financial lives.

implications for the Wealth Management industry

The Steward Partners acquisition is indicative of a broader trend within the wealth management industry. Independent RIAs are increasingly becoming attractive targets for larger firms and private equity investors. This trend is likely to continue as the industry consolidates and competition intensifies. advisors considering their options should carefully evaluate the benefits of joining a larger firm versus remaining independent. Factors to consider include:

Control and Autonomy: Independent advisors retain greater control over their business.

Succession Planning: A clear succession plan is crucial for long-term sustainability.

technology and Resources: Larger firms offer access to advanced technology and resources.

Compliance and Regulatory Burden: Larger firms can help navigate the complex regulatory landscape.

Valuation and Financial Security: Selling to a larger firm can provide financial security and a favorable valuation.

Understanding AUM and its Importance

Assets Under Management (AUM) is a critical metric in the wealth management industry. It represents the total market value of all financial assets that a firm manages on behalf of its clients. AUM is a key indicator of a firm’s size, success, and influence. Higher AUM typically translates to:

Increased Revenue: Firms typically charge a percentage of AUM as their fee.

Greater Profitability: Economies of scale can lead to higher profitability.

* Enhanced Reputation: A larger AUM can enhance a firm’s reputation and attract new clients.