Steward Partners Gains Advisor Recognition Amidst Industry Consolidation
Event summary
- Steward Partners had 29 advisors recognized on the 2026 Forbes | SHOOK Best-In-State Wealth Advisors list.
- The firm manages approximately $50 billion in client assets as of December 2025.
- Two advisors, Peter Silcox and David Lum, were recognized while affiliated with Raymond James, joining Steward Partners in Q1 2026.
- The firm was ranked #9 on Barron's Top 100 RIAs in 2025, requiring a minimum of $70 billion in assets to qualify.
The big picture
The recognition highlights Steward Partners' success in attracting and retaining high-quality advisors, a crucial factor in the increasingly competitive RIA market. The firm's employee-owned structure and focus on advisor support appear to be resonating, but the recent awards for advisors previously at Raymond James suggest a potential strategy of poaching talent. The firm's ranking on Barron's underscores its scale and ambition within the broader financial services industry.
What we're watching
- Advisor Retention
- The firm's ability to retain advisors, particularly Silcox and Lum post-award, will be a key indicator of its cultural integration success and competitive positioning.
- Growth Trajectory
- Continued advisor recruitment and AUM growth will be essential to maintain Steward Partners' position within the competitive RIA landscape.
- Competitive Dynamics
- The ongoing competition for top talent between independent firms and larger broker-dealers will likely intensify, impacting Steward Partners' ability to attract and retain high-performing advisors.
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