Since the start of 2023 wealth managers with a total of almost $700 million in assets under management have transitioned to the Steward Partners group.
Clarity Private Wealth Solutions, a business based in Mobile, Alabama and formerly affiliated with Wells Fargo Advisors, has transitioned to work with Steward Partners Global Advisory.
The group, led by Charles B Bailey, had previously operated as Ferguson Bailey Private Wealth Management Group.
The team, which also includes senior registered client associate Kellie Thompson, oversees about $250 million assets under management. It works with business owners, corporate executives, retirees, professional athletes, and non-profit organizations.
"With four successful transitions and nearly $700 million in new assets in the 30 days, Steward Partners is off to a dynamic start in 2023," Jim Gold, CEO and co-founder of Steward Partners, said. "Our leadership team is meeting with potential new partners almost daily. With the launch of our broker dealer and the addition of Pershing custodial services, combined with increased demand for our affiliate option, we are preparing for another record year in recruiting and revenue for the partnership.”
John Ferguson, managing director at Clarity, said: "Through Steward's partnerships, we feel we'll be able to better deliver an open architecture experience for clients that's not limited to the offerings of one particular firm."
Ferguson began his financial services career in 2004 with UBS before being recruited by Merrill Lynch in 2007 and accepting the position as the firm's resident director in Mobile in 2008. In 2015, he joined Wells Fargo Advisors as a financial advisor.
Bailey has accumulated almost 40 years of experience since beginning his career as a financial advisor with Sterne Agee in 1984. He moved to Legg Mason Wood Walker where he was branch manager for almost five years.
In total, Steward Partners has welcomed four new teams and added almost $700 million in assets since January 1. In addition to Clarity Private Wealth Solutions, H L Wiginton Capital Management, a four-person team with $220 million AuM and based in Jasper, Alabama joined in late January. It is led by Mike Wiginton, president, a professional with 30 years’ experience. He is joined by Tom Ferrell, VP, Luke Ferrell, investment advisor representative, and Kristi Alexander, office manager and sales assistant.
Also in January, Kurt Killingsworth, joined Steward's Hendersonville, North Carolina office as a partner, director, wealth manager. A veteran advisor with more than 18 years’ experience, he has $170 million in AuM.
The fourth new hire is Sean Hingley, formerly with Wells Fargo, who joined the firm as VP and wealth manager on January 5, with $50 million in AuM. He is based in Norfolk, Virginia.
Steward Partners was launched in 2013.