Steward Partners Lands $2.4 Billion Wirehouse Team in Northeast Expansion

Event summary

  • Steward Partners adds $2.4 billion in client assets via Zelniker Dorfman Private Wealth partnership, its largest wirehouse breakaway to date.
  • The 11-person team, led by Scott Zelniker and Peter Dorfman, specializes in multi-generational wealth management for business owners, athletes, and entertainers.
  • The deal expands Steward's presence in the Northeast Corridor and Florida, with offices in New York City, Connecticut, and along both coasts.
  • Zelniker Dorfman will operate under Steward's M&A Channel, maintaining its brand while leveraging the firm's national resources.
  • Steward Partners now manages over $52 billion in client assets as of April 2026.

The big picture

This partnership underscores the accelerating trend of top advisors leaving wirehouses for independent platforms offering greater flexibility and ownership. Steward's employee-owned model and long-term infrastructure are proving attractive to teams managing complex, multi-generational client relationships. The deal also highlights the strategic importance of regional expansion in high-net-worth markets like the Northeast and Florida.

What we're watching

Breakway Momentum
Whether Steward Partners can sustain its appeal to high-caliber wirehouse teams amid industry-wide shifts away from traditional models.
Regional Strategy
How effectively Steward integrates and grows its newly expanded Northeast and Florida footprints.
Multi-Generational Focus
The pace at which Steward can replicate Zelniker Dorfman's specialized approach across its broader advisor network.