NewEdge Advisors, a New Orleans-based registered investment advisor, said Thursday that it will now offer advisors an employee model of affiliation, which it calls a W2 model, in addition to an independent, or 1099, model.
In the new employee model, breakaways and other advisors who affiliate with NewEdge Advisors will operate under the NewEdge brand, and NewEdge will invest in their businesses. NewEdge will also purchase the practices of retiring advisors at such firms.
The firm said the first group to affiliate under the new employee model is Reinke Gray Wealth Management, which had joined NewEdge in 2018 under the independent model. The South Dakota-based firm, led by Brad Reinke, oversees $400 million in assets.
NewEdge Advisors, founded by Alex Goss and Neil Turner, currently has 265 affiliated advisors in 32 states who oversee $16.5 billion assets.
Shorter waits for failed SIE and Series 7 candidates take effect Jan. 19, speeding the path to registration
Raymond James and Cetera also welcomed advisors from UBS and LPL as competition for experienced teams stays fierce
Jim Walesa worked in the securities industry for 39 years before leaving in 2021.
As the market turned from pricing in cuts to betting on hikes this year, the developing reality of a K-shaped economy has had real implications for households and investors alike.
Alleged cash payments, stolen client data, and a court that jumped the gun
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
