NewEdge Advisors, NewEdge Wealth Divisions Drive Record Growth for Second Year
PITTSBURGH, March 10, 2023 — NewEdge Capital Group, LLC, a leading and rapidly growing wealth management firm supporting successful financial advisors nationwide, announced today that the firm reported record 2022 growth in client assets and advisor teams. The firm is headquartered in Pittsburgh and oversees $32 billion in total client assets.
“It’s gratifying to see that our strong value proposition, responsive management team and innovative solutions continue to resonate with top advisors across the country,” said Rob Sechan, a Managing Partner at NewEdge Capital Group and CEO and Co-Founder of NewEdge Wealth. “Giving advisors the flexibility, resources and true fiduciary freedom to thrive is what we’re all about.”
New Edge Capital Group provides a range of affiliation models, including supported independence and flexible employee models. The firm launched in October 2021 to encompass NewEdge Advisors, NewEdge Wealth and the firm’s broker dealer, NewEdge Securities. In 2022, the firm recruited $9.1 billion in expected assets under management (AUM). Also noteworthy in 2022: NewEdge Capital Group appointed industry icon Bob McCann as its Co-Chairman, was named one of Barron’s 2022 Top 100 RIA Firms and was included in Forbes’ 2022 ranking of America’s Top RIA Firms.
“Our rapid expansion tells a story about successful advisors partnering with a firm that supports their growth on their terms,” said Alex Goss, a Managing Partner at NewEdge Capital Group and Co-CEO and Co-Founder of NewEdge Advisors. “The NewEdge advantage delivers solutions that allow advisors to take control of the client experience while enjoying the margin, freedom and flexibility of an RIA — without having to expend the time and resources to run one.”
NewEdge Advisors Tops 2021 Performance
NewEdge Advisors 2022 performance outperformed its 2021 record year. The firm’s 2022 performance was bolstered by the addition of more than 40 advisors with a collective $4.38 billion in assets under advisement (AUA) from more than a dozen states. The strong recruitment activity demonstrated NewEdge Advisors’ strength in offering flexible affiliation models, asset management expertise and customized technology services.
Of the 23 teams that joined in 2022, over 30% are led by women, while over 90% of these new advisors are in their early 40s. The average age of a NewEdge advisor is 49 years old.
In the fourth quarter, NewEdge Advisors added PacificView Wealth Management in Irvine and Manhattan Beach, California; Rising Light Financial in Mokena, Illinois; Forefront Wealth Planning & Asset Management in Ramsey, New Jersey; NEXGEN Advisor Co. in Palmetto Bay, Florida; and AKH Financial in Daytona Beach, Florida.
NewEdge Wealth Strengthens Leadership, Locations
NewEdge Wealth added and opened offices in seven cities including Coral Gables, Florida; Miami, Florida; Park City, Utah; Manhattan Beach, California; Pittsburgh, Pennsylvania; and its headquarters, Stamford, Connecticut.
Additionally, it added 16 ultra high net worth advisors to its team and augmented leadership by naming Cameron Dawson as Chief Investment Officer, Robin Petty as Head of Wealth Strategy, Jason Catlender as a Principal in business development and Ben Emons as Senior Portfolio Strategist.
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. Investment advisory services offered through NewEdge Wealth, LLC, a registered investment adviser. Securities offered through NewEdge Securities, Inc., Member FINRA/SIPC. 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 $32 billion in client assets and supports over 300 financial advisors servicing several thousand households, family offices and institutions comprising more than 75,000 client accounts. The company is a division of EdgeCo Holdings, LP, which collectively services over $150 billion in assets through NewEdge and its other custody and retirement businesses. For more information, visit www.newedgecapitalgroup.com.
*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.
Donald Cutler or Lorene Yue
Haven Tower Group
424.317.4864 or 424.317.4854
DCutler@haventower.com or LYue@haventower.com