How Steward Is Managing Growth Through M&A, Closing 1099 Model to New Advisors

Core Insights - Steward Partners is discontinuing its 1099 model for incoming advisors to better manage growth through its W-2 channel and expanding M&A business [1][2] - The firm aims to reach $50 billion in assets under management (AUM) by the end of the year, with a long-term goal of exceeding $100 billion [3][4] Growth Strategy - The growth of Steward's M&A business is a significant factor in its expansion, with a current pipeline estimated at $40 billion for potential new deals [4] - The firm has completed eight acquisitions in 2025 and anticipates more before the year's end, with incoming advisors and teams being roughly split between recruitment and M&A [5] Market Positioning - Steward has added Fidelity and Schwab as custodians, enhancing its growth channels and attracting attention from revenue RIA firms generating between $4 million to $10 million [6] - The firm is increasingly appealing to larger teams for potential acquisitions, which will help accelerate its journey towards the $100 billion AUM target [6]