Steward Companions, an employee-owned, hybrid partnership of unbiased advisory corporations, has acquired Mainstay Wealth Administration, a staff of 4 advisors in Riverdale, N.J., with over $850 million in belongings beneath administration. The staff was beforehand with Ameriprise Monetary Providers for 33 years and can now be beneath Steward’s legacy division.
The staff, 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 help in each side doable to unify our shoppers and staff alike,” Burklow mentioned in a press release. “We’re very grateful for the trail we’ve been on for the previous 33 years, and the staff at Steward Companions brings us the platform and confidence to start this new chapter and be part of one thing larger 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 had been beforehand with First Republic Financial institution, which was acquired by JPMorgan Chase final yr.
