A team of advisors with more than 20 years of industry experience each has decided to switch to NewEdge Advisors from JPMorgan Securities.
The Dallas-based founders of Fortis Wealth Advisors – wealth advisors Erik Linstrom, Ben Roth, and Shawn Stanley, together with operations director Kris Cawthon – oversaw approximately $580 million in client assets at their old firm but made the decision to launch their own firm.
“We were looking for an RIA to provide the infrastructure to support our continued growth in an environment that allows us the flexibility to enhance our client service. We were drawn to NewEdge Advisors' robust portfolio management solutions, which drive significant time and cost efficiencies,” explained Cawthon. “Going independent will allow us to focus even more on what matters most to us, the client relationships we've built over the years."
Fortis Wealth has chosen Goldman Sachs Custody Solutions as their primary custodian.
“Choosing Goldman Sachs Custody Solutions to safeguard our clients' assets was not a choice we made lightly, and we are excited to offer their solutions and insights to our clients,” added Cawthon.
The addition of the Fortis Wealth team comes just days after NewEdge welcomed a $540 million Michigan-based team from Carson.
"We are proud to welcome Fortis Wealth Advisors to the NewEdge Advisors family," said Neil Turner, Co-CEO and Co-Founder of NewEdge Advisors. “This team is passionate about their work and greatly values the advisor-client relationship. Erik, Ben, Shawn and Kris have positively impacted many people and families across their esteemed careers, and we are thrilled to have them on board. We give our advisors more time, resources and solutions to help achieve their clients' goals. We look forward to supporting Fortis Wealth Advisors' continued growth and success."NewEdge has also just boosted its economic thought leadership and investing capabilities with a key hire as managing director and head of portfolio strategy.
The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.
The Atlanta, Georgia-based national wealth firm revealed its new PE partner as prior backers Wealth Partners Capital Group and HGGC’s Aspire Holdings exited their investments.
The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry.”
The St. Louis-based real estate investment firm gives the asset management giant a valuable access point to the roughly $1 trillion net lease market.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
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.
