NewEdge Capital Group Surpasses $9.5 Billion Recruitment Milestone

NewEdge Capital Group Achieves New Heights in Recruitment

NewEdge Capital Group, LLC, a thriving force in the wealth management industry, has proudly announced that it surpassed its ambitious 2024 recruiting target of $9.5 billion in expected assets under management (AUM) in less than a year.

Expansion of Services and Offerings

NewEdge Capital Group operates through two specialized Registered Investment Advisors (RIAs): NewEdge Wealth, focused on ultra high net worth clients, and NewEdge Advisors, which provides diverse affiliation models for financial advisors. These models range from independent practice ownership to the innovative NewEdge Advisors Pillar Channel, which works under a W2 structure.

Elite Wealth Advisors Uniting

The firm specializes in bringing together elite wealth advisors by offering a robust suite of services explicitly designed for their needs. NewEdge Securities exclusively provides brokerage services to both RIAs, ensuring enhanced capabilities for advisors and their clientele.

Leadership Insights on Growth

Rob Sechan, Co-Managing Partner and CEO of NewEdge Wealth, emphasizes how the firm has transformed into a premier destination for elite advisors. He notes that advisors are increasingly recognizing NewEdge Capital Group as a solution to their platform challenges due to its comprehensive service suite and culture of excellence. With a significant and sustainable growth trajectory over the past three years, the company maintains a strong pipeline of opportunities.

Impressive Recruitment Numbers

This marks the third consecutive year that NewEdge Capital Group has exceeded its recruitment goals within the designated timeframe. In the previous two years, the firm achieved impressive milestones, bringing in $9.1 billion in 2022 and $9.3 billion in 2023. By the end of 2023, NewEdge managed $44 billion in AUM, and as of now, the total client assets have risen to over $65 billion.

New Initiatives for Continued Growth

In its quest for organic growth, NewEdge Capital Group launched the Bridge Solutions Programs earlier this year. The Ultra High Net Worth Bridge program allows NewEdge Advisors to leverage the firm's extensive experience with high net worth clients, attracting those with complex wealth management needs. Meanwhile, the Retirement Bridge solution aims to create efficient partnerships between advisors and clients for improved retirement plan management.

Access to Innovative Strategies

Additionally, NewEdge Investment Solutions enables advisors and financial institutions to access innovative strategies similar to those implemented by NewEdge Wealth, further enhancing their value proposition. These initiatives are designed to foster substantial growth for both advisors and the firm.

W2 Affiliation Opportunities

The introduction of a W2 affiliation option through the NewEdge Advisors Pillar Channel is tailored for mid-career practices looking to enhance their growth through mergers and acquisitions. This option reflects NewEdge's commitment to adapt to the evolving needs of advisors and to aid them in achieving their next level of success.

NewEdge Capital Group by the Numbers

NewEdge Capital Group, recognized as a Barron’s Top 100 RIA Firm and featured in Forbes’ America’s Top RIA Firm list, manages over $65 billion in client assets. The firm supports more than 400 financial advisors servicing thousands of households, family offices, and institutions with over 75,000 client accounts.

About NewEdge Capital Group

As a division of EdgeCo Holdings, LP, NewEdge Capital Group collectively oversees more than $600 billion in assets across its various custody and retirement businesses. The firm continues to expand its impact and reach within the financial advisory landscape, solidifying its position as a leader in the wealth management field.

Frequently Asked Questions

What is the main achievement of NewEdge Capital Group?

NewEdge Capital Group has surpassed its 2024 recruitment target of $9.5 billion in assets under management ahead of schedule.

How does NewEdge Capital Group support financial advisors?

The firm provides a comprehensive suite of services and innovative affiliation models for financial advisors, enhancing their practice success.

What kind of clients does NewEdge Wealth focus on?

NewEdge Wealth specializes in serving ultra high net worth clients, ensuring tailored financial solutions.

How many advisors are part of NewEdge Advisors?

NewEdge Advisors has added over 25 new teams this year, totaling more than 375 advisors.

What recognition has NewEdge Capital Group received?

NewEdge Capital Group is recognized as a Barron’s Top 100 RIA Firm and is featured in Forbes’ America’s Top RIA Firm list.

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