NewEdge Capital Group, a leading and rapidly growing wealth management firm supporting successful financial advisors nationwide, announced 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 over $55 billion, with a substantial part of that figure coming from successful recruitment efforts.
About $5.5 billion in expected assets were recruited in the year’s first half. And by comparison, NewEdge Capital Group recruited a total of $9.6 billion in assets in 2023.
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 over 350 participants.
In the first half of 2024, NewEdge Advisors added 17 new teams, 3 of which brought over $500 million in expected AUM. These teams represent 39 new advisors, with 16 integrated into existing teams.
NewEdge Wealth experienced strong growth within its teams by adding 6 ultra-high-net-worth advisors, 2 investment team members, and a wealth strategist. The firm also opened an office in Atlanta and expanded its Coral Gables, Florida, facility.
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 this year (nearly a year after inception), the division crossed $3.5 billion AUM and earned GIPS compliance status.
The division expanded to five portfolio managers overseeing 11 investment strategies, including new municipal bond and small and mid-cap stock strategies. And it hired Brian Nick, CFA, as Managing Director, Head of Portfolio Strategy, and Kevin McIntyre as Principal, Municipal Bond Portfolio Manager.
KEY QUOTES:
“NewEdge Capital Group provides solutions and flexibility that advisors need to foster their growth from partners that want to see them succeed.”
- Rob Sechan, Co-Managing Partner of NewEdge Capital Group and CEO of NewEdge Wealth
“We’re proud that NewEdge has become a destination of choice for client-first, growth-minded advisors.”
- Alex Goss, Co-Managing Partner of NewEdge Capital Group and Co-CEO of NewEdge Advisors
“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.”
• ⁃ Neil Turner, Chief Revenue Officer of NewEdge Capital Group and Co-Founder and Co-CEO of NewEdge Advisors
