NewEdge Advisors Adds $6B Alabama Team to Employee Channel

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NewEdge Advisors, the New Orleans-based RIA concern level owned by NewEdge Capital Group, has acquired Stonegate Investment Group, a Birmingham, Ala.-based steadfast with 13 employees and astir $6 cardinal successful lawsuit assets. The Stonegate squad represents the largest to articulation NewEdge Advisors’ pillar channel, which present has much than $14 cardinal successful lawsuit assets. 

Stonegate was created successful 2021, erstwhile the squad near UBS Financial Services aft 13 years to make its ain RIA. The firm, led by CEO Tony Smith, focuses connected providing multi-family bureau services. 

NewEdge’s pillar transmission was introduced successful 2023 to transact and spouse with rapidly increasing advisor practices. These advisors follow the NewEdge sanction but tin besides support applicable sub-branding for their section market. They besides person a much standardized tech stack and concern suite than those successful the 1099 channel. 

“Our pillar programme is truly geared to find teams similar Stonegate—incredible practitioners that person breached done the barriers oregon solid ceilings that sometimes different advisors find difficult,” said Alex Goss, NewEdge Advisors CEO and co-founder. “And they did that by investing truly heavy successful their radical and infrastructure. Those are the types of teams we look for to physique beachheads successful antithetic markets. This is not a status play; this is simply a concern strategy. The nonsubjective is for america to turn faster than either of america could without each other.”

While Goss said the pillar transmission is simply a bully acceptable for galore wirehouse breakaways, they are having much conversations with existing RIAs than ever before.

“We’re starting to spot much and much teams that person done what Stonegate did,” helium said. “They left; they started their ain firm. And what they’re realizing is that to truly proceed to present coagulated work and turn the mode they privation to grow, if they tin spouse with a steadfast similar ours, they tin instrumentality the back-office enactment disconnected their sheet and let them to bash much of what they’re already truly bully astatine doing. The maturation and work way is enhanced.”

Late past year, Goss outlined plans for a large selling and income transportation for the W-2 transmission this year. The determination comes arsenic NewEdge Advisors has seen involvement from 1099 autarkic contractor advisors facing precocious valuations, some for recruiting oregon acquiring different RIAs, and for young advisors to bargain equity stakes.

Goss said helium expects 2026 to beryllium his firm’s astir acquisitive twelvemonth yet. 

That said, 85% of NewEdge’s advisor footprint consists of autarkic contractors, helium said.