Wealth management industry icon joins firm that leverages cutting-edge, disruptive technologies to support financial advisors.
PITTSBURGH– (BusinessWire) NewEdge Capital Group, LLC announced today that Robert J. McCann has joined the firm and will serve as an active Co-Chairman. With four decades of experience, Mr. McCann’s proven track record of executive leadership and delivering organic growth will propel NewEdge Capital Group’s mission of supporting successful advisors in the pursuit of the optimal client experience.
Mr. McCann will serve alongside current NewEdge Capital Group Chairman Charles Warden, founder of Mid Atlantic Capital Group. Parts of Mid Atlantic were recently rebranded under NewEdge, as parent company EdgeCo Holdings consolidated the wealth management operations it has launched or acquired since 2018. As of December 31, 2021, the combined NewEdge Capital Group entity supports more than 300 financial advisors and over $30 billion in client assets.
Mr. McCann spent the first 26 years of his career at Merrill Lynch, beginning as a trader and rising through the ranks to lead one of the world’s largest wealth management businesses as Vice Chairman and President of Global Wealth Management. In 2009, UBS AG named Mr. McCann Chief Executive Officer of UBS Wealth Management Americas and member of the Group Executive Board. He and his team transformed the wealth division into a thriving profitable enterprise before taking the helm as Chairman of UBS Group AG’s operations in the America’s. Mr. McCann stepped down from UBS at the end of 2020.
“In the same way that streaming apps disrupted cable TV, the wealth advice business is being changed by elite advisors using cloud-based open platforms to deliver advice optimally, and NewEdge embraces that change,” said Mr. McCann when explaining his decision to invest in and join NewEdge Capital Group. “It’s exciting to be with a firm that has been purpose built with institutional custodians, world class multi-source research, and boutique consulting advice that enables advisors to offer clients best in class solutions,” stated McCann.
The addition of Mr. McCann to the leadership team further bolsters the profile of NewEdge Capital Group when it comes to attracting new advisors. “We’re establishing NewEdge as the place that industry-leading, elite financial advisors turn to when they want to grow their practice in a way that’s best for them and their clients,” said Co-Chairman Charles Warden. “Having someone of Bob’s skill set and leadership experience onboard gives advisors and their clients further confidence that we are the firm of choice for the very best financial advisors and independent RIAs.”
As Co-Chairman, Mr. McCann joins forces with an executive team of seasoned industry vets who have generated tremendous growth over the past couple of years at NewEdge Capital Group. This includes the leadership at NewEdge Wealth, which was launched in December 2020 by Jeff Kobernick and Rob Sechan — both Barron’s and Forbes Top 100 Advisors before launching NewEdge Wealth — to provide a select group of high net worth and family office clients with a personally tailored experience designed to meet the complex needs of the most demanding investors. NewEdge Wealth is headed by Mr. Sechan and John Straus, Sr., a distinguished wealth management executive who led the private wealth practices at UBS, J.P. Morgan and Morgan Stanley. An invitation-only platform, the goal of NewEdge Wealth is to marry the benefits and safety that ultra high net worth clients require, with the flexibility and choice that independent advisors can offer as well as access to world class technology.
Mr. McCann will also be working with NewEdge Advisors, LLC under the leadership of Alex Goss and Neil Turner. NewEdge Advisors gives independent advisory practices a better way to serve clients and to manage time and expenses more effectively than they could on their own. The division was formed through the merger of Mid Atlantic Financial Management into Goss Advisors last November. Before becoming a division of NewEdge Capital Group, the team achieved the distinction of being named a four-time Financial Times Top 300 Financial Advisor award winner.
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 has over $30 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 $160 billion in assets through NewEdge and its other custody and retirement businesses. For more information, visit www.newedgecapitalgroup.com.
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