NewEdge Advisors Snags Two Firms Managing $1.9B in Combined Assets

Core Insights - NewEdge Advisors has successfully recruited teams from Ameriprise Financial and Raymond James, enhancing its advisor platform with a total of $1.94 billion in client assets under management [1][2]. Group 1: Recruitment and Team Details - A 24-person team from Ameriprise, ClearTrust Wealth Advisors, has joined NewEdge Advisors, managing $1.4 billion in client assets [2]. - Wealth Strategies Partners, a former Raymond James practice, has also been recruited, overseeing $519 million in client assets [3][4]. Group 2: Leadership and Vision - The Ameriprise team is led by Matt Robins, Nick Stamatis, and Joe Creecy, each with over 20 years of experience at Ameriprise [2]. - Paul Allen, President and CEO of Wealth Strategies Partners, has over a decade of experience with Raymond James and has been in practice since 1996 [4]. Group 3: Strategic Goals and Growth - The partnership with NewEdge Advisors is aimed at enhancing client experience and positioning for continued growth [3][5]. - NewEdge Advisors plans to expand not only through its platform model but also by recruiting advisors to its W-2 employee channel, which currently includes about 14 firms and approximately $14 billion in client assets [6].