NewEdge Capital Group, LLC, has opened offices in both Minnesota and Ohio within weeks of each other, adding teams that previously managed a combined $1.75 billion in client assets and pushing its NewEdge Wealth division to 22 locations nationwide.
The moves are the latest in an accelerating geographic push by NewEdge Wealth, the New York based registered investment advisor which specializes in serving ultra-high-net-worth and high-net-worth families, family offices and institutional clients.
The firm also recently opened in Tennessee, Georgia and Fort Lauderdale, Florida, and climbed to No. 2 on Barron's 2026 Top 100 RIA Firms list, its highest ranking since debuting at No. 29 in 2022.
The Minnesota office is based in Wayzata, near Minneapolis, and is led by James Shafer, who joins NewEdge as a Managing Director, and Michael Block, who joins as a Principal.
Joseph Gossett, Pamela Smith and Rachelle Carlson-Oien join as Vice Presidents, with Morgan Cisneros, Nick Rizzo and Carson Shultis joining in support roles. The team previously managed more than $1.25 billion in client assets, according to NewEdge.
The group brings decades of experience serving affluent clients across the Minneapolis area, with a focus on wealth transfer, multi-generational planning and tax-efficient management of significant assets, services increasingly in demand as the UHNW market expands.
InvestmentNews has reported on how advisors serving UHNW clients are gravitating toward the RIA model for its fiduciary alignment and flexibility.
"For decades, this team has worked closely with affluent communities around the Minneapolis area to mitigate risk, preserve wealth, manage cash flow and identify tax-efficient oversight," said Rob Sechan, founder and managing partner of NewEdge Capital Group. "James, Michael and the entire team built a practice that puts clients first and we are thrilled to have them anchor our new office in Minnesota and strengthen our Midwest presence."
Shafer cited platform access as a driving factor. "As Wayzata grew, so did our firm, and we needed a partner who could provide the technology, support and investment options to support our next phase of growth," he said. "NewEdge is that partner, and together we can provide the services our clients need as they navigate complex wealth management issues."
The New Albany, Ohio, office, announced Sept. 9, 2026, is led by Lance White, who joins NewEdge Wealth as a Managing Director alongside Shane Moran and Wendy Chance.
White brings more than three decades of experience across private wealth management, capital markets, technology investing and venture capital, including prior tenures at Morgan Stanley and UBS.
White most recently co-founded New Albany Wealth Management Group at Morgan Stanley, where he managed over $500 million in client assets. His team specializes in evaluating emerging technology businesses including artificial intelligence, robotics and aerospace and bringing those investment opportunities to founders, venture firms, family offices and other private market participants, giving the Ohio office a distinct specialization within NewEdge's national platform.
"New Albany has experienced considerable technology growth with industry leaders establishing manufacturing and data centers in the area, making the city a strong fit for our national footprint," Sechan said. "Lance has a longstanding perspective on innovation and the venture ecosystem."
NewEdge Capital Group as a whole supports over 550 financial advisors and reported a 20 percent increase in client assets from Q1 to Q2 2026, adding over 20 advisors during that quarter.
The firm operates through two RIA subsidiaries NewEdge Wealth for UHNW clients; and NewEdge Advisors, which offers multiple affiliation models to independent financial advisors as well as its broker-dealer, NewEdge Securities, LLC, a member of FINRA/SIPC.
The dual expansion reflects a broader trend of RIA consolidation and geographic buildout that has defined the wealth management industry in 2026, with firms competing aggressively for established teams and their client assets. InvestmentNews's ranking of the best RIAs for high-net-worth clients offers context on how firms like NewEdge Wealth are positioning in an increasingly competitive market for affluent clients.
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