NewEdge Capital Group, the umbrella organization for NewEdge Advisors, NewEdge Wealth and NewEdge Securities, continues to grow via organic and M&A efforts. The Pittsburgh-based firm reported it recruited nearly $5.5 billion in client assets during the first six months of the year. That puts the organization on pace to exceed its 2023 record year when it recruited a total of $9.6 billion in assets.
NewEdge Capital Group has reported record growth each year since it launched in October 2021. It currently services more than $55 billion in client assets.
“NewEdge Capital Group provides solutions and flexibility that advisors need to foster their growth from partners who want to see them succeed,” Rob Sechan, Co-Managing Partner of NewEdge Capital Group and CEO of NewEdge Wealth, said in a press release announcing its mid-year status.
Alex Goss, Co-Managing Partner of NewEdge Capital Group and Co-CEO of NewEdge Advisors, added, “We’re proud that NewEdge has become a destination of choice for client-first, growth-minded advisors.”
NewEdge Advisors, a New Orleans-based RIA, added 17 new teams in the first six months of the year. Three of those teams brought in more than $500 million in expected AUM. The firm added locations in Missouri, Washington and Vermont.
Neil Turner, Chief Revenue Officer of NewEdge Capital Group and Co-Founder and Co-CEO of NewEdge Advisors, said, “The continued consolidation in this industry has placed incredible pressure on advisors to achieve growth while simultaneously providing an elite level of client service. We deliver meaningful opportunities to build value for advisors and their clients, and our continued growth is a testament to our strategy.”
NewEdge Wealth, a Stamford, Connecticut-based RIA, added six ultra-high net worth advisors, two investment team members and a wealth strategist in the first half of the year. In addition, the firm expanded its Coral Gables, Florida, facility and opened an office in Atlanta.
NewEdge Investment Solutions, a division of NewEdge Wealth, now has more than $3.5 billion in AUM. Launched in August 2023, the unit provides NewEdge Capital Group advisors, external financial professionals and institutions with access to investment strategies.
James Miller, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at ContributingEd@wealthsolutionsreport.com.
