NewEdge Capital Group has expanded NewEdge Wealth into Minnesota with the opening of an office near Minneapolis led by an eight-person advisory team that previously managed more than $1.25 billion in client assets.
The Wayzata, Minnesota, location becomes NewEdge Wealth’s 22nd office and marks its first presence in the state. NewEdge Wealth is a registered investment advisor focused on ultra-high-net-worth and high-net-worth families, family offices and institutional clients.
The incoming team has extensive experience working with affluent clients throughout the Minneapolis region, including planning around wealth transfers, multigenerational wealth, cash flow, risk management and tax-efficient strategies.
James Shafer joins NewEdge Wealth as Managing Director, while Michael Block joins as Principal. Joseph Gossett, Pamela Smith and Rachelle Carlson-Oien are joining as Vice Presidents.
Morgan Cisneros, Nick Rizzo and Carson Shultis are also joining the firm in support roles.
The expansion gives NewEdge Wealth an established team in one of the Midwest’s significant wealth management markets and extends the firm’s broader national growth strategy.
NewEdge Wealth now has more than 70 ultra-high-net-worth advisors across 22 locations, including New York, Chicago, Miami and San Francisco.
The firm has also recently expanded into Tennessee and Georgia and added offices in Houston, Texas, and New Albany, Ohio.
For the Wayzata team, joining NewEdge provides access to additional technology, investment solutions and operational support as the practice continues to grow and serves clients with increasingly complex financial needs.
NewEdge Capital Group supports more than 550 financial advisors serving several thousand households, family offices and institutional clients across multiple business lines.
The firm operates an invitation-only model focused on established advisors, providing technology, investment capabilities and institutional-grade resources intended to help advisory teams expand their businesses while maintaining personalized client relationships.
The Minnesota office adds another significant advisory team to NewEdge Wealth’s platform as the company continues building a larger national presence in the high-net-worth and ultra-high-net-worth wealth management market.
KEY QUOTES:
“For decades, this team has worked closely with affluent communities around the Minneapolis area to mitigate risk, preserve wealth, manage cash flow and identify tax-efficient oversight. James, Michael and the entire team built a practice that puts clients first and we are thrilled to have them anchor our new office in Minnesota and strengthen our Midwest presence.”
Rob Sechan, Founder and Managing Partner of NewEdge Capital Group
“As Wayzata grew, so did our firm, and we needed a partner who could provide the technology, support and investment options to support our next phase of growth. NewEdge is that partner, and together we can provide the services our clients need as they navigate complex wealth management issues.”
James Shafer, Managing Director at NewEdge Wealth
