Driven by a silver tsunami of retiring baby boomers, Spokane-based Stewardship Concepts Financial Services LLC has seen its assets under management surge from $78 million in 2024 to $200 million in April 2026, says Noah Schwab, co-owner and certified financial planner at Stewardship Concepts.

With the stock market at a high, Stewardship Concepts has experienced a dramatic increase in both its total managed assets and its roster of clients, fueling a significant rise in company revenue, he says. 

“Market growth increases our revenue naturally, and then we bring on more assets, and so a lot of advisory practices are doing really well,” Schwab says. 

The financial advisory company prioritizes working with high-net-worth retirees — those with at least $1 million in retirement savings — who require strategic guidance on the optimal timing for Social Security and the most tax-efficient sequence for drawing down their various investment accounts, he explains.

“That is what the silver tsunami is looking to get help with, and we're seeing a big influx from people just finding us on Google, reaching out, and needing help,” he says.

Many clients are expressing concern about when and how to convert tax-deferred money into tax-free money via Roth conversions to avoid paying additional taxes on the withdrawals, Schwab says. A growing number of retirees and preretirees also have questions about how Roth conversions will affect their Social Security and Medicare, how to navigate Washington state’s estate tax or new millionaire’s tax, and how to plan for a retirement that will last the rest of their lives, he adds.

Other client questions include when to start tapping into Social Security, and if and when to pull savings from a retirement or brokerage account, Schwab says.

“If somebody comes in and they're retiring, they're wondering, ‘When do I start Social Security and time that with taking money from my investment accounts?’” says Schwab. “We've bought tax software to help project specifically those things.”

Schwab says the software was an investment, and has been a helpful tool in preparing clients for an evolving retirement landscape. While data-driven strategies are helpful to answer these individual questions, Schwab notes that the overall market creates both an opportunity and a risk for those nearing retirement. 

The earlier people can meet with a financial planner, the better prepared they’ll be to retire and maximize their retirement savings, he contends. Preretirees also need to stay informed of changing legal restrictions regarding taxed retirement funds, as mistakes or misunderstandings can shrink a retiree’s net worth if not properly planned.

Schwab attributes the company’s revenue growth to a "double-dipping" effect: while a peak national market naturally inflates the value of existing accounts, the business is simultaneously bringing on a wave of new assets from a growing client base. However, stocks across the market are overvalued, he contends, predicting the market will see a healthy correction. He adds that Stewardship Concepts is prepared to ride out several years of market decline when the correction comes.

Revenue at the fee-only fiduciary company has almost doubled since Schwab and co-owner Amy Drury acquired the business from founder Edwin Hill for $1.1 million in 2024, he says.

Schwab expects the company's growth trend to continue into the future. For instance, as the silver tsunami of retiring baby boomers gains momentum, more entrepreneurs are listing their legacy companies for sale and seeking succession advice from specialized advisory companies such as Stewardship Concepts, Schwab says.

“There's a really big opportunity for young entrepreneurs to come in and make relationships, leverage (artificial intelligence) and technology, and revamp a lot of these industries or businesses that have been around for a long time, and pass along that legacy,” he says.

Schwab says he expects the industry also will face an uptick in inheritance planning and advice as retirees pass their wealth on to their children and grandchildren. As the market evolves, more clients are expected to meet with advisers to take advantage of tax-efficient wealth strategies and learn how to navigate changing legal rules, he says.

“It's part of the whole entire cycle of a client — they come to us and we maximize retirement, we get them through their retirement, and we're also working with their attorney and accountant through that whole entire process, because we know eventually these assets are passing on to the next generation,” he says.

Stewardship Concepts has six employees following the company's acquisition of Spokane-based Little Mountain Financial Services LLC last year, Schwab says. The business has plans to hire an additional financial planner next year, he notes.

“We're seeing this huge demand, and … we really have to look forward and realize we need to handle this growth and make sure that our clients are being serviced well too,” he says.