Obituary: Don Stewart

An industry leader who gave financial advice for half a century, Don Stewart, has passed away aged 76.

Don Stewart founded the highly successful wealth management business Stewart Group in 1987 and passed the company over to his son Nick at his retirement in 2023. Stewart Group released a statement this week confirming Don passed away peacefully on the morning of March 16 in Havelock North.

“Don’s kindness and humour was unmatched. He had boundless energy, endless ideas and unwavering commitment to help others, which was truly inspiring,” says the company tribute.

Don Stewart began selling insurance in his 20s to help fund his dream of farm ownership, and eventually achieved his goal, but left the farming world behind to concentrate on his financial services business. At the time, insurance clients were asking for help managing their investments, which prompted Don to found D L Stewart and Associates (later Stewart Financial Group) in 1987.

From there, Don grew the business into a seven-strong adviser team specialising in risk insurance, wealth management and financial planning, as well as KiwiSaver – plus 13 support staff. With offices in Hastings and Wellington, Stewart Group services more than 2,500 clients across New Zealand.

“For over 50 years, Don was a visionary in the financial industry, driven by his boundless ambition,” says the Stewart Group.

“His dedication and hard work transformed Stewart Group from a small insurance advisory firm into a leading financial planning organisation with a national clientele, operating in Hawke’s Bay and Wellington.

“Through his leadership, we have been able to provide individuals, families, businesses, and trusts with professional wealth management and financial planning services.”

Reflecting on his career in an interview with Good Returns when he retired in 2023, Don Stewart said he was happy to be leaving the company in good hands.

“I’m very proud of how Stewart Group has evolved, and with my son Nick continuing at the helm, I’m excited to see the continued growth of the company I started,” said Don.

“In those early days we had a very small advisory practice, dependent on one adviser and one PA. Now we have an integrated business, looking after a significant number of clients across our business.”

Don told Good Returns the highlight of his career had been the clients.

“I’ve worked with some fascinating and worthwhile people.”

Don is survived by his wife Mary, three adult children and six grandchildren.