Newly-formed RIA firm to expand EdgeCo’s wealth management footprint with a focus on serving ultra-high-net-worth, family office and institutional clients
A team of recognized industry veterans Jeffrey Kobernick, Robert Sechan, Walter Granruth and John Straus, Jr. today formally announced the launch of the new registered investment advisory firm, NewEdge Wealth, LLC. The new company, formed in partnership with EdgeCo Holdings, L.P. (“EdgeCo”) expands on EdgeCo’s growing wealth management industry footprint. The news comes on the heels of EdgeCo’s acquisition of The Private Wealth Partners (“PWP”) earlier in 2020 to leverage its solutions for advisors to ultra-high-net-worth clients.
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Built on the belief that wealth management firms must change to best support client needs and deliver complex wealth management structures, NewEdge Wealth is designed to meet the needs of ultra-high-net-worth, family office and institutional clients and will offer a modern, objective and innovative approach to wealth management. The founding team is formerly of UBS where they were overseeing approximately $4.8 billion in client assets and bring decades of experience to the firm. The group partnered with EdgeCo, which provides technology-enabled financial solutions and infrastructure for its financial services industry partners.
“As client needs evolve, so too must the firm itself, or advisors will miss the mark on providing the highest quality service to their clients,” said Chuck Warden, Board Member of EdgeCo. “Today’s ultra-high-net-worth investors need access to creative solutions, advanced resources and cutting-edge technology to succeed. NewEdge Wealth presents that opportunity for this elite client base.”
The NewEdge Wealth team curated an elite suite of technology-based solutions and tools that will facilitate superior and innovative client service. Advisors will have access to leading technology services, including the latest planning software, comprehensive asset tracking and performance measurement tools, risk management solutions and unbiased research.
“Our focus has always been on designing and implementing best-in-class solutions and ideas for our clients,” Sechan commented. “New patterns and trends emerge, and we need to be nimble in order to optimize solutions and advance on client goals. NewEdge Wealth is that solution. It presents a new opportunity for us to customize investment and wealth management strategies that meet complex needs and objectives without many of the constraints found at larger firms.”
Kobernick added: “We took great care in making the decision of who to partner with for this next phase of our business. We found a partner in EdgeCo who could support the way we want to do business for our clients, positioning us to keep up with the evolving landscape, providing the best-in-class solutions for our clients and operating on a true open architecture platform.”
Earlier this year, EdgeCo acquired PWP, which was founded by former Morgan Stanley, JP Morgan, Merrill Lynch and UBS executives and provided a framework for wealth management firms to support ultra-high-net-worth and institutional clients. John Straus, Sr. led PWP, which will be rebranded as part of NewEdge Wealth, and led the design of the integrated technology and investment platform that serves as the backbone of NewEdge Wealth. Straus, Sr. has been named as President of NewEdge Wealth.
“The landscape for advisors has shifted dramatically in recent years, as clients demand more innovative solutions,” Straus, Sr. commented. “The previous approach to wealth management no longer applies in today’s world. Clients need a fresh perspective – and a new edge – to make the most of their finances and meet their goals.”
NewEdge Wealth’s founding team boasts decades of combined industry experience and the team is regularly recognized on leading financial services industry rankings, including Barron’s, Forbes and The Financial Times.
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