Steward Partners acquires investment adviser Umpqua Investments

Steward Partners, a US-based wealth management firm, has completed its acquisition of Umpqua Investments, a registered broker dealer and registered investment adviser, from Umpqua Holdings.

The combined entity has been renamed Steward Partners Investment Solutions.

According to Steward Partners, the acquisition marks its planned growth into the Pacific Northwest. It has added 22 financial advisors, who manage $3.4 billion in client assets generating revenue of $15 million.

The acquisition of Umpqua Investments increases the total client assets under management of Steward Partners to over $22 billion.

Steward Partners acquires investment adviser Umpqua Investments. Photo courtesy of Tumisu from Pixabay.

Jim Gold – Steward Partners CEO said: “Our goal since launching Steward Partners has been to build a company with a nationwide presence.

“With the closing of our acquisition of Umpqua Investments, we’ve established a firm foothold on the West Coast and look forward to building further on that momentum.”

Umpqua Wealth Management’s clients will now be part of Steward Partners with the latter also looking forward to an existing referral partnership with Umpqua Bank.

Hy Saporta – President and Chief Operating Officer of Steward Partners Global Advisory said: “This acquisition represents a major step forward in our long-term goal of positioning Steward Partners as the destination of choice for established advisors who want to grow their own businesses while being part of a much larger entity.

“The advisors joining Steward as part of the Umpqua Investments team share our vision of the future and come from a culture that aligns with our own.”