Last updated: 14:02 / Friday, 11 July 2014
Kenneth and Erik Mathieson

$3 Million Dollar Morgan Stanley Team Joins Steward Partners

$3 Million Dollar Morgan Stanley Team Joins Steward Partners
  • Steward Crosses over $1 Billion Recruited in less than 8 months
  • The Mathieson's bring $3 million in production and $315 million in assets
  • The team has over 50 years of combined experience serving clients as Wealth Managers

Steward Partners Global Advisory, an employee-owned, full service independent partnership, announced that Kenneth Mathieson and Erik Mathieson, along with their other team members, have left the midtown Manhattan office of Morgan Stanley, to join Steward Partners. The team has over 50 years of combined experience serving clients as Wealth Managers. This move to Steward Partner's newest location, 2 Grand Central Tower, 140 East 45th Street, marks the official opening of a flagship New York City Branch for Steward. The Mathiesons manage $315 million in client assets, and generated over $3 million in production on an annual basis at their prior firm.

With the addition of the Mathiesons, Steward Partners has crossed the billion-dollar threshold in recruited assets in just under 8 months, averaging well over $100 million a month in new recruited assets since inception. Along with The Mathiesons, Steward Partners has welcomed other high-end teams managing hundreds of millions in assets in the months of May and June. The newest recruits join the existing advisors of the same quality who began joining weeks after Steward Partners launched last September.

The firm, which utilizes the Raymond James platform and support services, has opened offices in four states with several more planned this year. Steward's rapid expansion establishes it as a fast growing Full Service Independent Partnerships. Their success is extremely rare as it usually takes years, not months, to reach the all-important milestone of $1 Billion in AUM recruited.

"Congratulations to Mike, Jim, Hy and the entire Steward Partners team on surpassing $1 billion in recruited client assets," said Scott Curtis, president of Raymond James Financial Services. "We recognized early on that their boutique partnership proposition would appeal to certain high quality, client-focused advisors seeking independence combined with the camaraderie and familiarity of a more traditional branch environment and the full-service support resources provided by Raymond James.  We look forward to their continued growth and success."

Along with pride in hitting the billion dollar milestone, Steward's CEO is proud of his firm's newest team: "Ken and Erik and their entire team represent what's best about true partnership," says Steward CEO Mike Maurer. "They are among the best in the United States at what they do, they are client focused, and they care about the people they work with. We are honored to call them partners."

"Over time, we saw the changes to our industry," says Ken Mathieson. "We came to appreciate the Independent movement for its transparency and fairness for clients and Advisors. When we combined that with Steward, and its top caliber management team, our fear of the independent space turned to excitement, especially with the strength, stability and vast resources Raymond James brings to the table."

"We wanted a say in firm direction, and to feel like our business and clients matter," adds Erik Mathieson. "Being a partner and an owner is totally different than being an employee. Who we have partnered with is exciting, comforting and empowering." "While a billion is a reach to many, it is just the beginning. Assets and revenue matter, but reputation, character and the ability to enhance our culture comes first," says Maurer. "Raymond James has been a big part of our success. They are the real deal in everyway."

The company is headquartered in Washington, DC with additional offices in Andover, MA, Portsmouth, NH, and New York City. Steward Partners Global Advisory is an employee-owned, full service independent partnership catering to family, institutional and multi-generational wealth.