NewEdge Wealth, a recent entrant in the ultra-competitive market for hiring and recruiting wirehouse brokers and advisers, said Friday it had hired an 11-person UBS team in South Florida that's led by Ghislain Gouraige and Jared Kaplan, both 15-year veterans of UBS, who will continue to be based in Coral Gables.
Gouraige and Kaplan are joining NewEdge Wealth as partners, said Rob Sechan, managing partner and CEO of NewEdge Wealth, which has two business sides: a registered investment adviser and a platform for brokers to leave large firms and open their own RIAs.
Gouraige and Kaplan's team is now under the NewEdge Wealth RIA, Sechan said. The team had $3 billion in client assets at UBS and produced $15 million in annual revenue, he added.
The hiring comes just days after NewEdge said that Robert J. McCann, UBS' former chairman for the America's region, was returning to the financial advice industry as co-chair of NewEdge Capital Group, which works with 300 financial advisers and $30 billion in client assets. He retired from UBS at the end of 2020.
Sechan, who left UBS in 2020 to join NewEdge Wealth, declined to discuss specifics regarding compensation for the new advisers or the terms of the recruiting deal used to lure senior advisers to NewEdge.
"We're one of the fastest growing RIAs and enablement platforms in the industry," he said.
A spokesperson for UBS declined to comment on the hiring of the South Florida team.
Other UBS advisers hired by NewEdge as part of the team in the Coral Gables office include Claudio Ravinet, Michael Weinberg and Michelangelo Dooley.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
