UMPQ - Steward Partners to acquire wealth management business of Umpqua Investments

Umpqua Holdings (UMPQ) and Steward Partners Global inks agreement for the acquisition of the wealth management business operated through Umpqua Investments by Steward Partners.Steward Partners Global Advisory, LLC is an employee-owned, full-service independent investment adviser with financial advisors offering brokerage services through Raymond James Financial Services.Umpqua's 23 Financial Advisors manage $3.4B in client assets generating $15M in revenue and will become equity partners and employees of Steward Partners Global Advisory.The acquisition is expected to close in the Q121 and marks Steward Partners' expansion into the Pacific Northwest.

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Steward Partners to acquire wealth management business of Umpqua Investments