Robertson Stephens is reopening operations as a wealth management shop with financial support from the private equity firm Long Arc Capital. The firm, which earlier did business as Robertson Stephens Advisors, says that both advisors and management can obtain equity interest in the company as part of its new business plan.
The RIA traces its 40-year business history to investment banking and was among the top underwriting firms during the heyday of technology stocks. It now has five financial advisors, about $500 million in client assets and offices in San Francisco and New York.
“The wealth managers, management and Long Arc have a shared commitment to the long-term success of this firm and its clients,” according to Robertson Stephens CEO and Chief Investment Officer Stuart Katz, the former president of the family office Heyman Enterprise and previously a managing director at Goldman Sachs.
“As we reinvent wealth together, we’re cognizant that wealth is more than just financial assets. It includes legacy, family, relationships, reputation and, ultimately, well-being,” Katz explained. “In sum, we support clients and advisors in achieving their goals with confidence and ease.”
Some members of the management team invested in the business earlier in 2018.