A.G. Edwards scion branches out, expands into New York

Benjamin “Tad” Edwards IV, the great-great-grandson of Albert Gallatin “A.G.” Edwards, took another step toward expanding his own brokerage business with the launch of a branch in White Plains, N.Y. — one that will house a number of former A.G. Edwards Inc. advisers and employees. Mr. Edwards' firm — Benjamin F. Edwards & Co. — opened up its first branch in Springfield, Mo., just last month, and Mr. Edwards noted at the time that he aims to have at least six branches up and running before the end of the year. The White Plains office, which officially opened its doors today, will serve clients in the greater New York metropolitan area, Mr. Edwards, founder, chairman, chief executive and president, said in a statement. “With the opening of our second office, we believe we are well on our way toward our goal of offering client-focused financial services using a business model that relies on a culture of trust, integrity and mutual respect,” he stated. The branch opening includes the hiring of four brokers who worked at A.G. Edwards, which was acquired by Wachovia Securities in 2007 and later by Wells Fargo & Co. in 2008. Neal Baumann is joining the firm as co-branch manger and senior vice president, investments. He spent the last 17 years of his 25-year career in financial services with A.G. Edwards/Wells Fargo Advisors. Also joining the White Plains branch are David T. Shipper — co-branch manager and vice president, investments, who had joined A.G. Edwards' White Plains office in 1995 — and Thomas J. Condon and his son Stephen M. Condon of The Condon Group Ltd., who joined A.G. Edwards in 1992 and 2004, respectively. Thomas Condon will serve as managing director, investments, and his son will serve as an associate vice president, investments. “Having spent much of our careers at A.G. Edwards, working again at a firm headed by the Edwards family, and one that shares our dedication to our clients, is a bit like coming home for us,” Mr. Baumann said in the statement. In the Springfield-based branch, the firm hired Michael Petiford and Tim Reese, who both had worked for more than 20 years at the local branch of Wells Fargo Advisors.