NewEdge Advisors, NewEdge Wealth Divisions on Track to Exceed Last Year’s Record Results
PITTSBURGH, July 31, 2023 — NewEdge Capital Group, LLC, a leading and rapidly growing wealth management firm supporting successful financial advisors nationwide, announced today that the firm is on pace to exceed last year’s record recruitment and asset growth numbers. As of June 30, 2023, NewEdge Capital Group’s total client assets serviced exceed $40 billion, due in large part to its recruitment efforts.*
“The first six months of this year serve as a testament to the value of our range of affiliation models and unparalleled advisor support for wealth managers who want a partner for growth,” said Alex Goss, Managing Partner of NewEdge Capital Group and CEO and Co-Founder of NewEdge Advisors. “The entire NewEdge team is extremely proud to serve as this partner to incredible and successful advisors from across the country.”
NewEdge Capital Group launched in October 2021 to encompass NewEdge Advisors, NewEdge Wealth, and NewEdge Securities, the firm’s broker dealer. In 2022, the firm had a record recruitment year, securing 23 teams for NewEdge Advisors and 16 ultra high net worth advisors for NewEdge Wealth. Additionally, the firm hired Michael Bauer as Managing Director of Technology and Michael Blumstein as Chief Financial Officer for EdgeCo Holdings, the parent company of NewEdge Capital Group, in the first half of the year.
Rob Sechan, a Managing Partner of NewEdge Capital Group and Co-CEO and Co-Founder of NewEdge Wealth added, “Advisors have many choices in today’s industry, and we are honored that so many have decided to partner with our firm. Our continued rapid expansion demonstrates that we have the solutions that successful advisors want to foster their growth.”
NewEdge Wealth’s Expansion
NewEdge Wealth opened three new offices in the first half of the year, including San Francisco; Bentonville, Arkansas, and the Nashville area, bringing its total locations to nine. The firm also added to its growing Miami office and welcomed seven ultra high net worth advisors across the firm.
NewEdge Advisors Grows Roster
In the first quarter, NewEdge Advisors added Guardian Financial Consultants of California, Sunodia Capital Management of Georgia, Stoic Private Wealth of North Carolina, T.I.P.S. 4 Reps of Ohio, Modus Wealth Management of Florida and welcomed new advisors to existing teams in Michigan and Louisiana.
In the second quarter, NewEdge Advisors added Tenured Advisors of New Hampshire and Massachusetts, Downtown Wealth Partners of Michigan, Trinitas Wealth Partners of Florida, LWM Advisors of Florida, Streamline Wealth of Georgia, Emeritus Wealth of New Jersey, Castle Wealth Partners of Georgia and welcomed an advisor to an existing team in Georgia. Additionally, Coastal Capital Advisors, an existing NewEdge team, welcomed a group of professionals, including 13 new advisors, formerly known as Ahrens Investment Partners.
Collectively, the firm added 39 advisors from 16 teams in the first half of the year.
About NewEdge Advisors
New Orleans-based NewEdge Advisors is a leading RIA founded by Alex Goss and Neil Turner. The firm, built by advisors for advisors, embraces a transparent approach to educating advisors on the independent opportunities that currently exist in the industry landscape. This approach, combined with advisor-first services and multiple affiliation models, including direct 1099 and W-2, continues to attract high-performing advisors from across the country. The firm serves advisors in 32 states from coast to coast.
Previously known as Goss Advisors, the firm became a part of EdgeCo Holdings in 2020 to lead the 1099 wealth division. In 2021, NewEdge Advisors was created as a part of the launch of NewEdge Capital Group.
About NewEdge Wealth
NewEdge Wealth is designed to meet the needs of ultra high net worth, family office and institutional clients. The division seeks to provide a select group of clients with a personalized level of service and attention designed to help organize and simplify their lives, while also providing access to an expansive menu of institutional caliber products and services — all wrapped in technology that serves as the connective tissue between the client and their advisor to create a stronger, more personal relationship. NewEdge and its affiliates do not render advice on legal, tax and/or tax accounting matters to clients. Each client should consult his/her personal tax and/or legal advisor to learn about any potential tax or other implications that may result from acting on a particular recommendation.
About NewEdge Capital Group
NewEdge Capital Group and its subsidiaries collectively trace their roots back over 30 years and provide best-in-class technology-enabled solutions and support services to financial advisors and their clients. Today, NewEdge Capital Group, a Barron’s Top 100 RIA Firm and Forbes’ America’s Top RIA Firm**, has over $40 billion in client assets serviced and supports over 300 financial advisors servicing several thousand households, family offices and institutions comprising of more than 75,000 client accounts. The company is a division of EdgeCo Holdings, LP, which collectively services over $160 billion in assets through NewEdge and its other custody and retirement businesses. Investment advisory services provided by NewEdge Advisors, LLC and NewEdge Wealth, LLC, our SEC registered investment advisers. Securities offered through NewEdge Securities, Inc., Member FINRA/SIPC. NewEdge Advisors, LLC, NewEdge Wealth, LLC, and NewEdge Securities, Inc. are wholly owned subsidiaries of NewEdge Capital Group, LLC.
*Assets “serviced by” the firm includes (i) client assets for which we provide investment advisory services, (ii) client assets for which we provide brokerage services through our affiliate, NewEdge Securities, Inc. and (iii) client assets held at unaffiliated broker dealers for which we provide supervisory oversight and support services.
**Barron’s rankings awarded in September 2022 based on prior 12-month data. Forbes/Shook rankings awarded in October 2022 based on June 30, 2022, data.