Praetorian Private Wealth in Austin, Texas, has joined the Steward Partners Global Advisory LLC hybrid platform, the companies announced today.
Led by Rick Fuchs, managing director/wealth manager, the six-person team was formerly with Wells Fargo Private Bank, where they managed more than $300 million in client assets for ultra-high-net-worth families.
"By joining Steward Partners, we benefit from their association with Raymond James and gain economies of scale in areas like compliance, technology and support, but with the independence to create exclusive, highly bespoke relationships with each of our clients," Fuchs said in a news release.
Steward Partners is a hybrid independent investment advisory firm offering both investment advisory and broker-dealer services. By using Raymond James as its custodian, the company enables practices such as Praetorian to break away from a wirehouse, while still having access to the technology platform of a larger firm.
According to Steward Partners, the firm’s hybrid platform offers the best of both worlds to financial advisories.
“Our partners have the freedom to run their own business combined with the benefits of working with a powerful platform partner and an equity stake in our mutual success," Chris Barton, divisional president at Steward Partners, said in a prepared statement.
Other Praetorian team members include Graham Heck, MBA, senior vice president/wealth manager; V. Connor Fuchs, senior vice president/wealth manager; Victor Raitu, JD, CFP, vice president/wealth manager; Colton Jacob, vice president/wealth manager; and Jantzen Stachour, vice president/chief administrative manager.
Based in Washington, D.C., Steward Partners is an employee-owned, full-service independent partnership serving family and multigenerational wealth.