NewEdge Advisors, EdgeCo's Louisiana-based RIA subsidiary, has extended its reach in the Lone Star state as a seven-person team joins from Osaic.
The firm announced Monday that it is welcoming BFS Advisory Group, led by founder Debra Brennan Tagg. The Dallas-based team managed approximately $318 million in client assets prior to the move.
Tagg, an industry veteran with over 25 years of experience, is recognized for her focus on financial planning-led wealth management. Other than Osaic, her BrokerCheck profile shows a history of past affiliations with Brennan Wealth Advisors and FSC Securities Corporation.
She is accompanied by associate wealth advisors Erin Neece and Hollis Stuckert, portfolio analyst Bradley Rouse, and three additional support staff as part of the transition to NewEdge Advisors.
“We're excited to have Debra and her team as part of our firm and look forward to supporting their continued growth,” Alex Goss, co-CEO and co-founder of NewEdge Advisors, said in a statement Monday.
A financial advisor since 1998, Tagg has built a reputation as a notable speaker on financial topics geared toward Gen X families, entrepreneurs, and women. In 2021, she founded The Aspen Society, a financial wellness group designed to connect women interested in expanding their financial knowledge.
“Our clients are successful, smart individuals who want to be excellent stewards of their wealth. They value professional guidance to use their money to have the lives they want, and they want a partner who will help them personally to pursue their goals,” said Tagg.
BFS Advisory Group marks the latest step in NewEdge Advisors' aggressive expansion, which has included 24 other teams and 56 new advisors, along with an 18 additional advisors it integrated into existing teams. In the first half of 2024 alone, the firm added 17 teams with 39 advisors, counting its June additiosn of a $580 million JPMorgan team and a $540 million practice from Carson.
Previously known as Goss Advisors, NewEdge Advisors became part of EdgeCo Holdings in 2020 and rebranded under NewEdge Capital Group in 2021.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
