Robertson Stephens has announced the launch of a family office to serve ultra-high-net-worth clients, with Bruce Stewart appointed as the head of family office.
The initiative is designed for clients who have outgrown a multi-family office platform but are not yet ready for a single-family office, the company said.
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This initiative targets clients who have outgrown a multi-family office platform but are not yet ready for a single-family office environment, the company said.
Stewart brings over 25 years of experience in building and advising single-family offices.
His expertise includes serving as an outsourced chief investment officer.
At Robertson Stephens, he will focus on developing a practice tailored to families with “sophisticated” needs beyond those addressed by traditional multi-family offices.
Robertson Stephens CEO Raj Bhattacharyya said: “We have always planned to have a family office service offering adjacent to our wealth management practice.
“With the launch of our family office, clients have the rare opportunity to access unique and highly valuable services beyond the standard offering seen in traditional private banks, multi-family offices and many other players in the industry without the upfront and high recurring expenses typical of a single-family office.”
Before joining Robertson Stephens, Stewart founded Spartan Risk Solutions, a family office consultancy.
At Spartan Risk Solutions, he managed $23bn in wealth for four families.
He also held the role of global head of investments at Bank of New York Family Office, overseeing nearly $15bn in assets.
Stewart’s leadership experience extends to serving as president of BNY Mellon Canada and co-head of investments at Toronto Dominion Bank.
Stewart added: “In my experience, some families have outgrown the capabilities of a traditional multi-family office but prefer to avoid the financial commitment of establishing their own.
“These families have more complex needs that require a specialised skill set, enhanced capabilities, and a sophisticated approach. I am excited to build this practice at Robertson Stephens and deliver a truly differentiated solution.”
Robertson Stephens concluded 2024 with $7.1bn in advisory assets under management, reflecting a 45% growth over the previous year.
The company also completed five acquisitions last year, expanding its presence in Chicago, Connecticut, Oregon, and Colorado.
