October 21, 2019
Louis Diamond Quoted
By Jason Bisnoff
Steward Partners has announced a new line of business, launching a self-employed affiliate model that offers advisers the ability to start or maintain their own business with access to Steward’s infrastructure.
The service expansion is a positive development in the independent adviser ecosystem, according to Diamond Consultants executive vice president Louis Diamond.
“With all these new entrants into the independent wealth management space, there is enough room for everyone,” Diamond said.
He explained that heavyweights in the space such as Dynasty Financial Partners will likely be competing for different advisers, and that well-staffed firms with the right business model offering a turnkey solution for wirehouse breakaways tend to succeed.
“Steward will likely be, especially with the name to trade on,” he added.
