NewEdge Capital – a leading and growing wealth management firm supporting successful financial advisors nationwide – announced it exceeded its 2024 recruiting target of $9.5 billion in expected assets under management (AUM) in less than 12 months.
NewEdge Capital Group brings together wealth advisors through two distinct RIAs: NewEdge Wealth (serves ultra-high net worth clients under a single brand) and NewEdge Advisors (offers multiple affiliation models to financial advisors) from independent practice ownership and branding to the recently launched NewEdge Advisors Pillar Channel that operates under a W2 structure. NewEdge Capital Group provides brokerage services exclusively to both RIAs through NewEdge Securities.
This is the third consecutive time NewEdge Capital Group exceeded its recruitment goal before the end of the year. In 2022, the firm brought aboard $9.1 billion in expected AUM, and in 2023, it recruited $9.3 billion. At the end of 2023, NewEdge Capital Group oversaw $44 billion in AUM. As of November 30, 2024, the firm manages over $65 billion in total client assets.
NewEdge Advisors added 25+ new teams this year and now stands at more than 375 advisors. And NewEdge Wealth opened new offices in Atlanta; Boca Raton, Florida; the Lehigh Valley, Pennsylvania area; and Portsmouth, New Hampshire, and has over 50 advisors serving ultra high net worth clients.
Earlier this year, NewEdge launched its Bridge Solutions Programs. And the Ultra High Net Worth Bridge program utilizes NewEdge Wealth’s experience working with ultra high net worth clients as well as its intellectual capital, enabling NewEdge Advisors to tap into this expertise and attract clients with similarly complex wealth management needs. And the Retirement Bridge solution facilitates partnerships between American Trust Retirement, a subsidiary of the same parent company as NewEdge Capital Group. It helps advisors either win new retirement plan business or manage existing plans more efficiently, creating strategic partnerships between advisors and clients.
Plus, the addition of NewEdge Investment Solutions allows financial professionals and institutions access to many of the same innovative strategies NewEdge Wealth deploys to manage client assets on an outsourced basis. This enhances value for advisors and their clients and allows NewEdge Capital Group to drive additional growth.
NewEdge Advisors also launched its W2 affiliation option through the NewEdge Advisors Pillar Channel. The Pillar Channel collaborates with mid-career large and above-average growing practices that are looking to accelerate growth through M&A activity and tuck-ins further.
KEY QUOTES:
“We’ve become a destination for elite advisors seeking to elevate their practice and who are attracted to our comprehensive services suite, intellectual capital stack and culture of excellence. Many advisors are now proactively approaching us, recognizing NewEdge Capital Group as the solution to their current platform limitations. Our continued expansion has been significant and sustainable for the past three years, and our pipeline remains incredibly strong.”
– Rob Sechan, Co-Managing Partner of NewEdge Capital Group and CEO of NewEdge Wealth
“Our rapid growth from industry newcomer to sought-after platform in less than four years demonstrates the strength of our advisor-first approach. We’re asked all the time about what our secret to success is. It’s really pretty simple. Be honest, transparent and always put your advisor’s needs before the firm. When you do that, success tends to take care of itself.”
- Alex Goss, Co-Managing Partner of NewEdge Capital Group and CEO of NewEdge Advisors
“Instead of trying to fit advisors into a single box, NewEdge now has an affiliation option for any elite advisor. Our goal is to help seasoned and successful advisors get to that next level of success. Our wide range of innovative programs coupled with our commitment of only bringing aboard advisors who already know how to run an elite practice positions our firm for meaningful and continued organic growth in the new year.”
- Neil Turner, Chief Revenue Officer of NewEdge Capital Group and Co-Founder of NewEdge Advisors