PITTSBURGH – (BUSINESS WIRE) – A team of recognized industry veterans, Jeffrey Kobernick, Robert Sechan, Walter Granruth, and John Straus, Jr., today officially announced the launch of the new registered investment advisory firm NewEdge Wealth, LLC. The new company, formed in partnership with EdgeCo Holdings, LP (“EdgeCo”), expands EdgeCo’s growing presence in the wealth management industry. The news follows the acquisition of The Private Wealth Partners (“PWP”) by EdgeCo in early 2020 to leverage its advisory solutions for wealthy clients.
NewEdge Wealth is based on the belief that wealth management companies need to change to best support client needs and provide complex wealth management structures. It was specially developed for wealthy family office and institutional clients and offers a modern, objective and innovative approach to asset management. The founding team used to be UBS, overseeing approximately $ 4.8 billion in client assets and bringing decades of experience to the company. The group has partnered with EdgeCo, which provides technology-based financial solutions and infrastructure for its partners in the financial services industry.
“As customer needs evolve, so too must the company or its consultants fail to provide the best possible service to their customers,” said Chuck Warden, board member of EdgeCo. “Today’s wealthy investors need access to creative solutions, advanced resources, and cutting edge technology to be successful. NewEdge Wealth offers this opportunity for this elite customer base. ”
The NewEdge Wealth team has assembled an elite suite of technology-based solutions and tools that enable superior and innovative customer service. Consultants have access to leading technology services, including the latest planning software, comprehensive asset tracking and performance measurement tools, risk management solutions, and unbiased research.
“Our focus has always been on designing and implementing first-class solutions and ideas for our customers,” commented Sechan. “New patterns and trends emerge, and we have to be nimble to optimize solutions and achieve customer goals. NewEdge Wealth is that solution. This gives us a new way to customize investment and wealth management strategies that meet complex needs and objectives without many of the limitations that come with larger companies. ”
Kobernick added, “We have made very careful decisions about who to work with in this next phase of our business. In EdgeCo we have found a partner who supports the way we want to do business for our customers. He can position us to keep up with the evolving landscape, offer our clients the best in class solutions, and work on a real platform with open architecture. ”
Earlier this year, EdgeCo acquired PWP, founded by former executives from Morgan Stanley, JP Morgan, Merrill Lynch and UBS, which provided a framework for wealth management firms to support high net worth and institutional clients. John Straus, Sr., led PWP, which will be renamed as NewEdge Wealth, and led the design of the integrated technology and investment platform that serves as the backbone of NewEdge Wealth. Straus Sr. has been named President of NewEdge Wealth.
“The landscape for advisors has changed dramatically in the past few years as clients demand more innovative solutions,” commented Straus, Sr. “The previous approach to asset management no longer applies in today’s world. Customers need a new perspective – and a new edge – to get the most out of their finances and achieve their goals. ”
NewEdge Wealth’s founding team has decades of industry experience and the team is consistently recognized in leading financial services industry rankings, including Barron’s, Forbes and The Financial Times.
About EdgeCo Holdings, LP
EdgeCo, through its subsidiaries, is a leading provider of first-class technology-based solutions for financial intermediaries and their customers. For over four decades, EdgeCo companies have provided a variety of technology and support services to a diverse national financial intermediary customer base, including full-service retirement management, brokerage, advisory, and escrow and custody services. This customer base includes registered agents, investment advisors, and other financial intermediaries, including retirement planners, TPAs, banking trust departments, broker-dealers, and insurance companies. The company has approximately $ 130 billion in custody or management assets, as well as more than 15,000 financial advisors and 500 financial institutions.
About NewEdge Wealth
NewEdge Wealth is a registered investment advisor tailored to the needs of wealthy family office and institutional clients. The company was founded in 2020 as a result of a partnership between EdgeCo and a four-person wealth management team comprised of Jeffrey Kobernick, Robert Sechan, Walter Granruth and John Straus Jr. The company offers comprehensive wealth and lifestyle management services for ultra-wealthy individuals and families. NewEdge Wealth is a division of EdgeCo Wealth Management LLC. NewEdge Wealth, LLC is registered as an investment advisor with the SEC. Securities are offered through Mid Atlantic Capital Corporation, LLC. Member of FINRA / SIPC. More information is available at www.newedgewealth.com
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