Wells Fargo loses $190M adviser to indie firm Steward Partners
An adviser overseeing $190 million in client assets left Wells Fargo for Steward Partners, an independent firm affiliated with Raymond James, according to the firm.
New York-based Mark Pojednic is the latest financial planner to join the fast growing firm. Earlier this month Steward Partners opened its 10th office in Boston, recruiting three teams that managed over $600 million in client assets.
Pojednic moved to the firm last week for its partnership model and independence.
"I think there's an opportunity to help build something here. I'm only 35 years old and this is where I'll be for the rest of my career," he says.
He also cited the firm's relationship with Raymond James as a factor in his decision. Recalling the financial crisis, Pojednic said the firm's conservative approach and strength of its balance sheet was reassuring.
"Having lived through Armageddon, that is meaningful to me," he says. "Those were dark days. I don't want to have clients in a position where they are worried about that."
Pojednic had been with Wells Fargo and legacy firm Wachovia since joining the industry nearly 13 years ago. He enrolled in the company's training program after graduating from Bates College in Lewiston, Maine.
His practice consists of about 80 households. Pojednic says he is focused on serving multiple generations of the same family.
"I never wanted to be someone with 500 households invested in just one or two portfolio models. To me, this is all about getting down and deep in the financial details," he says.
A Wells Fargo spokeswoman was not available for immediate comment on his departure.
Washington-based Steward Partners has grown to 10 offices and recruited more than 60 advisers since its founding by former wirehouse managers in 2013.