Steward Partners acquires Jazz Wealth, adds $450M AUM

Steward Partners announced Tuesday that it acquired Jazz Wealth, an eight-advisor registered investment advisory firm based in Largo, Florida, bringing roughly $450 million in client assets onto Steward’s platform. Jazz Wealth serves about 3,500 clients, with an average client age in the mid-40s, and will keep its name and separate identity.

Under the agreement, Steward will provide Jazz Wealth with human resources, compliance, marketing and other back-office services, along with a capital investment and an ownership stake in the larger firm. Steward manages about $50 billion in client assets.

Industry trackers counted 142 RIA mergers and acquisitions in the first quarter and projected the sector could reach about 475 transactions for the year. A separate monitor recorded 93 deals in the first quarter, matching a recent high for quarterly activity.

Scott Danner, Steward’s executive vice president and head of legacy, said the firm completed seven deals in 2026, five of them in the first quarter. He described consolidation as a response to a shrinking advisor workforce relative to retirements.

Jazz Wealth’s founders said they sought operational support without changing the firm’s client-facing approach. Dustin Tibbitts, managing director and wealth advisor, noted the firm targets working-class investors who value education. Jazz Wealth built an audience through frequent YouTube videos and holds weekly “Wine & Wealth” gatherings in a speakeasy-style setting to discuss financial topics.

Jazz Wealth’s online fee schedule lists services for clients with as little as $2,000 in investible assets, with management fees starting at 1.5% and declining to 0.5% for accounts of $250,000 or more. The founders said they intend to maintain an inclusive client base rather than segment service by account size.

Eric Powell, a financial advisor at Jazz Wealth, said the partnership will allow the team to focus on client service while Steward handles administrative work. The founders expect the added scale and infrastructure to support growth while preserving Jazz Wealth’s culture and outreach methods.