EdgeCo Holdings, the parent company of retirement plan services provider AmericanTCS and wealth management firm NewEdge Capital Group, surpassed $600 billion in assets serviced across all its service lines. The holding company maintains custody, trading, administration, brokerage, investment management and technology platforms. AmericanTCS now services more than $550 billion in assets and NewEdge Capital Group represents more than $60 billion.
“This year, we saw incredible gains through both AmericanTCS and NewEdge Capital Group, driven in part by the successful integration of several acquisitions we’ve made in recent years and the enhanced platform capabilities we’re now able to provide our clients to help them grow their businesses and manage their operations more efficiently,” said EdgeCo Chief Executive Officer Paul Schneider.
“The powerful synergies between our retirement solutions at AmericanTCS and the wealth management services provided by NewEdge Capital Group, are also beginning to have an impact on our growth,” he added.
The company has 900 employees, providing custody services and technology solutions for retirement plan providers and sponsors, as well as independent and affiliated financial advisors. According to a news release, EdgeCo supports approximately 60% of U.S. 401(k) plans, working with more than 425,000 retirement plans, 15,000 financial advisors and 500 financial institutions.
EdgeCo supports approximately 60% of U.S. 401(k) plans.
“Over the past several years, our team built a company that is positioned to thrive in varying market environments, and we will continue to explore strategic acquisitions that are intended to enhance our already successful solutions,” added Schneider. “Our growth, supported by a defined strategy to broaden organically, is a testament to the team’s dedication to delivering best-in-class retirement and wealth management services.”
AmericanTCS includes American Trust Wealth, American Trust Custody, American Technology Automation, American Trust Retirement and FiduciaryXChange. NewEdge Capital Group includes two RIAs: NewEdge Wealth, serving ultra-high net worth clients, and NewEdge Advisors, which offers multiple affiliation models to financial advisors. EdgeCo also provides brokerage services through NewEdge Securities.
Michael Madden, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at mmadden@wealthsolutionsreport.com.
