Steward Partners Acquires $850M Former Ameriprise Team 

Steward Partners, a hybrid registered investment advisor, has acquired Mainstay Wealth Management, bringing four advisors and more than $850 million in assets under management into its new M&A branch, legacy division, and further expanding the firm’s New Jersey presence with an office in Riverdale. 

Led by Timothy Burklow Sr. and Matthew Rotella, the 14-person Mainstay Wealth Management team has over three decades of experience from their previous affiliation with Ameriprise Financial Services. Following their departure from Ameriprise, the team changed their name from “Mindful Wealth Management” to “Mainstay Wealth Management.” 

“Embarking on this new chapter with Steward Partners was the perfect opportunity for us to fully embody our revised namesake, solidifying the continuation of our mission to provide support in every facet possible to unify our clients and team alike,” said Burklow, managing director and wealth advisor. 

Besides Burklow and Rotella, who joins as a managing director and wealth advisor, Chris Rotella and William Lewis join Steward Partners as SVPs and wealth advisors. 

Led by CEO Jim Gold, Steward Partners managed more than $38 billion in client assets as of October for families, businesses, and multigenerational investors. 

In April, the firm announced the double acquisition of Monaco Capital and Saling Simms, adding $488 million in combined assets and five advisors.