NewEdge Advisors, the New Orleans-based RIA partnership platform owned by NewEdge Capital Group, has recruited a $1.4 billion staff from Merrill Lynch. The staff of six advisors and three assist employees will function as Krueger, Fosdyck, Brown, McCall & Associates in Destin, Fla.
The staff is led by founders Tim Krueger, Cory Fosdyck, Jerry Brown and Collin McCall. Krueger and Fosdyck labored at Merrill for 18 years earlier than the transfer. They’re joined by senior wealth advisors Nina McClanahan and Gabe Campbell.
The staff will use Goldman Sachs for custody.
“NewEdge Advisors appealed to our staff with its capacity to prioritize our objectives,” Fosdyck stated in a press release. “This transition will allow us to boost our shopper service and considerably develop our capability to supply alternatives to shoppers, their households, and companies.”
NewEdge Advisors was initially Goss Advisors, co-founded by Alex Goss and Neil Turner in 2020, earlier than the launch of its guardian firm the next yr. NewEdge Capital Group contains NewEdge Wealth, which Goss described as predominantly centered on UHNW households. NewEdge Advisors acts as the corporate’s extra conventional impartial mannequin. The RIA had almost $27 billion in belongings beneath administration as of the top of 2024, in keeping with an ADV submitting. NewEdge had about $65 billion throughout its subsidiaries.
In December, NewEdge Capital Group stated it exceeded its recruiting goal of $9.5 billion in AUM for 2024 in lower than 12 months. NewEdge Advisors added over 25 new groups, and NewEdge Wealth opened 4 new places of work through the yr.
