RIA Steward Partners said last week that it bought Consilium Wealth Management, adding $1.1 billion in assets to the firm’s platform. The group is based in Danville, California, near San Francisco.
The move brings Steward a team with close to 10 members and more than 50 years of combined industry experience. Founded in 2010, Consilium is led by John H. Seo, a certified financial planner who earlier worked for Merrill Lynch and Prudential Financial.
The firm focuses on serving high-net-worth individuals and families in Northern California. While its advisors work on client portfolios that top $10 million in assets, its affiliate entity — Simplex Wealth Management — serves client portfolios of $1 million and higher.
"John and his team at Consilium represent exactly the kind of exceptional talent we're attracting as we build something truly special," said Scott Danner, executive vice president and head of Steward’s Legacy Division, in a statement. "We're intentionally designing a culture where top-tier advisors identify the value in joining us because of the infrastructure, support and future-forward vision we offer."
Steward, a hybrid RIA launched in 2013, had some $40 billion in client assets as of Jan. 31. It is led by Jim Gold.
Credit: Adobe Stock
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.