NewEdge Capital Group Exceeds $40 Billion As Recruitment Surges

Chris Latham, Managing Editor, Wealth Solutions Report

During First Half Of 2023, NewEdge Wealth Opened 3 Offices And Recruited 7 Ultra-High Net Worth Advisors While NewEdge Advisors Recruited 39 Advisors Across 16 Teams

Pittsburgh-based NewEdge Capital Group announced that, as of June 30, its total client assets serviced exceeded $40 billion, largely as a result of recruitment efforts, and it is on track to exceed record recruitment and asset growth set in 2022, when it recruited $9.1 billion in expected assets under management (AUM).

The firm, which is the wealth management business unit of EdgeCo Holdings, serves more than 300 financial advisors who collectively oversee more than 75,000 client accounts.

Launched in October 2021, NewEdge Capital Group consists of NewEdge Advisors, an RIA previously known as Goss Advisors; NewEdge Wealth, which serves ultra-high net worth, family office and institutional clients; and NewEdge Securities, its broker-dealer. NewEdge Advisors brought on 23 teams and NewEdge Wealth brought on 16 advisors last year.

Alex Goss, Managing Partner, NewEdge Capital Group and CEO & Co-Founder, NewEdge Advisors

“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.”

In the first half, NewEdge Wealth opened three offices and recruited seven advisors. Gregory Pool joined its Miami office from Wellington Management in July and Josh Gully joined its  Stamford, Connecticut, headquarters from Morgan Stanley in April.

NewEdge Wealth has grown to nine offices. These include the June openings of offices in Nashville, with former UBS advisor Richard Ina and in San Francisco, with John Froley, recruited from First Republic; and the March opening of its Bentonville, Arkansas, office.

Rob Sechan, Managing Partner, NewEdge Capital Group and Co-CEO & Co-Founder, NewEdge Wealth

In the first half of the year, NewEdge Advisors brought on 39 advisors across 16 teams with offices in 12 states. These included Guardian Financial Consultants of California; Florida teams Modus Wealth Management, Trinitas Wealth Partners and LWM Advisors; as well as the Georgia teams Sunodia Capital Management, Streamline Wealth and Castle Wealth Partners.

“Advisors have many choices in today’s industry, and we are honored that so many have decided to partner with our firm,” said Rob Sechan, a Managing Partner of NewEdge Capital Group and Co-CEO and Co-Founder of NewEdge Wealth. “Our continued rapid expansion demonstrates that we have the solutions that successful advisors want to foster their growth.”

Chris Latham, Managing Editor at Wealth Solutions Report, can be reached at clatham@wealthsolutionsreport.com.

Total
0
Shares
Related Posts

Sign Up for Our Newsletters

Sign Up for Our Newsletters