NewEdge Capital Group Continues Expansion with Addition of Seven Bridges Wealth Advisors
NewEdge Capital Group has once again partnered with Ameriprise to enhance its network for Registered Investment Advisors (RIAs) by welcoming a prominent advisory team.
Seven Bridges Wealth Advisors Joins NewEdge Advisors
Seven Bridges Wealth Advisors, a 14-member team, has recently joined NewEdge Advisors in White Plains, New York. With previous experience managing $1 billion in client assets at Ameriprise, the team brings a wealth of expertise to their new role.
It marks the second time this year that NewEdge has acquired a significant team with assets exceeding $1 billion from Ameriprise. Earlier in the year, NewEdge announced the addition of a 24-member practice from Ameriprise in Franklin, Tennessee.
Seven Bridges Wealth Advisors is led by managing partners Max DiSesa, Andrew Buscetto, David Mazzetti, and Joseph Femia. The team specializes in providing family office-type services related to investment and retirement planning, insurance, employee benefits, tax management, estate planning, and charitable giving.
Each member of the team brings a unique background to the table, with years of experience in the financial industry. Femia highlighted the team’s decision to join NewEdge Advisors as a move towards greater independence and enhanced client service capabilities.
NewEdge Capital Group: A Leader in Independent Financial Services
NewEdge Advisors, based in New Orleans, is the independent contractor division of NewEdge Capital Group. The group also includes NewEdge Wealth, an RIA, and NewEdge Securities, a broker-dealer. With backing from private equity firms Parthenon Capital and Waterfall Asset Management, NewEdge Capital Group manages over $88 billion in client assets and boasts a team of more than 450 advisors and registered representatives.
In comparison, Ameriprise, once a partner of NewEdge, has seen a rise in client assets but no longer discloses its advisor headcount. With client assets reaching $1.2 trillion by the end of the previous year, Ameriprise continues to be a key player in the financial services industry.
In summary, the addition of Seven Bridges Wealth Advisors to NewEdge Advisors signifies a strategic move towards independence and enhanced client services, solidifying NewEdge Capital Group’s position as a leader in the financial services sector.
