Steward Companions, an employee-owned, hybrid partnership of impartial advisory corporations, has acquired Mainstay Wealth Administration, a crew of 4 advisors in Riverdale, N.J., with over $850 million in property beneath administration. The crew was beforehand with Ameriprise Monetary Providers for 33 years and can now be beneath Steward’s legacy division.
The crew, led by Timothy Burklow Sr. and Matthew Rotella, has 14 professionals and can function as Mainstay Wealth Administration at Steward Companions. Chris Rotella and William “Invoice” Lewis be a part of Steward as senior vice presidents and wealth advisors.
At Ameriprise, the observe was working as Aware Wealth Administration, however they determined to rebrand to Mainstay with the transfer.
“Embarking on this new chapter with Steward Companions was the right alternative for us to totally embody our revised namesake, solidifying the continuation of our mission to supply assist in each side attainable to unify our purchasers and crew alike,” Burklow stated in a press release. “We’re very grateful for the trail we’ve been on for the previous 33 years, and the crew at Steward Companions brings us the platform and confidence to start this new chapter and be part of one thing greater than ourselves.”
This follows information earlier this month that Steward added two advisors with $175 million in AUM to its Miller Household Wealth department. Florida-based advisors Zach Berg and Barry Berg created G2G Wealth Administration at Steward Companions. The duo have been beforehand with First Republic Financial institution, which was acquired by JPMorgan Chase final yr.
