Steward Partners, an employee-owned independent wealth management firm, announced that it has secured $475 million in strategic capital from Ares Credit funds. The transaction includes a significant expansion of the firm’s lending relationship and a non-controlling minority investment. Ares joins Steward Partners’ existing institutional backers, Cynosure Group and The Pritzker Organization, while strategic control and day-to-day operations remain firmly with Steward Partners’ leadership and partner group.
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The investment marks a major milestone in the firm’s growth story. What began just over a decade ago with three advisors and less than $100 million in assets has evolved into a national wealth management platform overseeing nearly $50 billion in client assets. Throughout that expansion, Steward Partners has remained anchored in a model built on advisor independence, employee ownership, and a deeply client-centric culture combining national scale with the agility of a boutique firm.
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Central to Steward Partners’ success is its ownership structure, which gives partners meaningful equity in the business they help build. This approach encourages long-term thinking, accountability, and alignment between advisors, employees, and clients. By ensuring that those serving clients are also owners in the firm, Steward Partners has created a durable platform designed to grow responsibly over time.
Jim Gold, Chief Executive Officer of Steward Partners, described the transaction as a defining moment for the firm, saying it reflects more than a decade of commitment and value creation by its partners. President and Chief Operating Officer Hy Saporta added that the firm was seeking more than capital—it was looking for alignment and a partner that respects independence and collaboration. He noted that the structure of the investment preserves the qualities that make Steward Partners distinct in the wealth management industry.
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From the investor perspective, Ares emphasized its confidence in Steward Partners’ leadership and market position. Scott Rosen, a Partner in Ares Credit, said the firm is pleased to support Steward Partners’ next phase of growth and highlighted the strong alignment between employees, management, and investors. Keith Taylor, Chairman of the Board at Steward Partners, echoed that sentiment, noting that the firm’s ownership model not only rewards partners through profit-sharing but also through meaningful capital events that recognize their long-term contributions.
Representatives from The Pritzker Organization also praised Steward Partners for redefining what a scalable partnership model can look like in wealth management, expressing enthusiasm for the firm’s next chapter of growth. Saporta concluded by emphasizing the firm’s commitment to remaining independent, durable, and differentiated as it continues expanding its platform.
Founded in 2013, Steward Partners has become one of the fastest-growing RIAs in the industry. The firm recently climbed to a top-10 position on Barron’s 2025 Top 100 RIA Firms list and was named a 2025 Thrivent Employer of Choice by InvestmentNews. Its advisors and teams were also recognized on Forbes | SHOOK’s 2025 Best-In-State rankings, underscoring the firm’s consistent focus on delivering high-quality client service. Piper Sandler & Co. served as exclusive financial advisor on the transaction, with legal counsel provided by Ropes & Gray LLP and Latham & Watkins for Steward Partners, and Cahill Gordon & Reindel LLP for Ares.
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