Steward Partners Investment Advisory, LLC (New York)

Name: Steward Partners Investment Advisory, LLC
Address: 140 E, 45 Th St., New York, NY, 10017
Telephone: 212-364-0364

Steward Partners Investment Advisory, LLC is a large advisory firm based in New York. It manages $5.2 billion of regulatory assets for 13,391 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Alabama, Arizona, Arkansas, and 41 other states.

Steward Partners Investment Advisory provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, and financial consulting. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Steward Partners Investment Advisory: assets under management

The assets under management (AUM) of Steward Partners Investment Advisory, LLC is $5.2 billion. The firm's AUM has grown by 330% since the beginning of its operation, and $65.44 million of the total AUM is attributable to clients outside of the United States.

The firm manages $4.08 billion in discretionary accounts and $1.12 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $359.9 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $542.36 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 39% of the total AUM. The second-largest asset type is investment and business development companies, which make up 37% of the firm’s portfolio. Investments in non-exchange traded securities form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Steward Partners Investment Advisory, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Michael Patrick Maurer serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Michael Patrick Maurer is high net worth individuals with 4,257 clients and $4.15 billion of assets under management. Among the 11 most similar advisory firms, Steward Partners Investment Advisory has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $5.2 billion for 7,981 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Steward Partners Investment Advisory doesn't advise any private funds.

Careers at Steward Partners Investment Advisory, LLC

The company employs 199 people that are either part- or full-time employees. 62 percent of the employees work as investment advisers or researchers. 158 employees are registered as investment adviser representatives with the state securities authorities.

There are 11 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Michael Patrick Maurer has been acting as President since 1 Jan 2016. Llc Steward Partners joined the executive team most recently as the Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Steward Partners Holdings Llc	Member	1 Jan 2016	75% - 100%	00-0000000
Corinne Marie Moccia Cunha	Chief compliance officer	1 Jan 2016	Other	2639969
Michael Patrick Maurer	Chairman	1 Jan 2016	Other	2189832
James Matthew Gold	Chief executive officer	1 Jan 2016	Other	2642863
Hy Jamie Saporta	President and chief operating officer	1 Jan 2016	Other	2672279
George Michael Way	Chief financial officer	1 May 2017	Other	4609124
Llc Steward Partners	Member	1 Sep 2018	75% - 100%	83-2030450

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Llc Steward Partners Holdings	Member	1 Sep 2018	75% - 100%	46-3114123

Based in New York

The principal office where Steward Partners Investment Advisory, LLC performs its advisory services is located at 140 E, 45 Th St., New York, NY 10017, which is also the mailing address of the firm. An additional office of the firm is in Keene, NH. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-364-0364 or by fax 212-867-5922. The normal business hours are 8:30am - 5:00pm on Monday - Friday. You can find more information about the New York firm at stewardpartners.com/.