Firm Now Services More Than $55 Billion in
Client Assets, On Pace for Third Consecutive Year of Record
Growth
NewEdge Capital Group, LLC, a leading and rapidly growing wealth
management firm supporting successful financial advisors
nationwide, announced today that successful organic growth and
recruiting efforts have put the firm on pace for another record
year of growth. As of June 30, 2024, NewEdge Capital Group’s total
client assets serviced are more than $55 billion, with a
substantial part of that figure coming from successful recruitment
efforts.
Approximately $5.5 billion in expected assets were recruited in
the first half of the year. By comparison, NewEdge Capital Group
recruited a total of $9.6 billion in assets in 2023.
“NewEdge Capital Group provides solutions and flexibility that
advisors need to foster their growth from partners that want to see
them succeed,” said Rob Sechan, Co-Managing Partner of NewEdge
Capital Group and CEO of NewEdge Wealth.
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 Capital Group launched in October 2021 to encompass
NewEdge Advisors, NewEdge Wealth, and NewEdge Securities, the
firm’s broker-dealer. In the first half of this year, the firm
added 61 advisors and held its annual National Partners Conference,
which drew more than 350 participants.
NewEdge Advisors Continues Growth Pace
In the first half of 2024, NewEdge Advisors added 17 new teams,
three of which brought more than $500 million in expected AUM. The
teams represent 39 new advisors, with an additional 16 integrated
into existing teams.
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.”
InvestmentNews recognized NewEdge Advisors as one of the
industry’s fastest-growing firms. It expanded its footprint by
adding teams in Missouri, Washington and Vermont.
NewEdge Wealth Expands Footprint, Teams
NewEdge Wealth experienced strong growth within its teams by
adding six ultra high net worth advisors, two investment team
members, and a wealth strategist. In addition, the firm opened an
office in Atlanta and expanded its Coral Gables, Florida,
facility.
Cameron Dawson, the firm’s Chief Investment Officer, was named
CIO of the Year by Institutional Investor and Danielle Brown was
named Outstanding COO by Family Wealth Report. Rob Sechan was
recognized as a finalist in the CEO of the Year category by
InvestmentNews.
NewEdge Investment Solutions Crosses $3.5 Billion a Year
After Inception
NewEdge Investment Solutions, a division of NewEdge Wealth,
launched in August 2023 as a platform to provide NewEdge Capital
Group advisors and external financial professionals and
institutions with access to differentiated investment strategies.
In the first six months of 2024, nearly a year after inception, the
division crossed $3.5 billion AUM and earned GIPS® compliance
status, a widely recognized industry accomplishment.
The division has expanded to five portfolio managers overseeing
11 investment strategies, including new municipal bond and small
and mid-cap stock strategies. Additionally, it hired Brian Nick,
CFA®, as Managing Director, Head of Portfolio Strategy, and Kevin
McIntyre as Principal, Municipal Bond Portfolio Manager.
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 $55 billion in client assets serviced** and supports over 400
financial advisors servicing several thousand households, family
offices, and institutions comprising of more than 75,000 client
accounts. The company is a division of EdgeCo Holdings, LP, which
collectively services over $550 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 2023 based on prior 12
month data. Forbes/Shook rankings awarded in October 2023 based on
data from 3/31/22-3/31/23. Neither NewEdge Wealth nor its employees
pay a fee in exchange for these rankings. InvestmentNews
Fastest-Growing in America awarded in June 2024 based on prior 12
month data. Institutional Investor RIA Intel Award awarded in June
2024 based on prior 12 month data. Family Wealth Report awarded in
February 2024 based on prior 12 month data. InvestmentNews
finalists awarded in April 2024 based on prior 12 month data.
**Assets “serviced by” the firm includes (i) client assets for
which we provide investment advisory services, (ii) client assets
for which we provide brokerage services through our affiliate,
NewEdge Securities, Inc. and (iii) client assets held at
unaffiliated broker-dealers for which we provide supervisory
oversight and support services.
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