NewEdge Advisors Adds $6B Alabama Team to Employee Channel [Yahoo! Finance]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
societegenerale.com/en/investors
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Source: Yahoo! Finance
NewEdge Advisors, the New Orleans-based RIA partnership platform owned by NewEdge Capital Group, has acquired Stonegate Investment Group, a Birmingham, Ala.-based firm with 13 employees and about $6 billion in client assets. The Stonegate team represents the largest to join NewEdge Advisors' pillar channel, which now has more than $14 billion in client assets. Stonegate was created in 2021, when the team left UBS Financial Services after 13 years to create its own RIA. The firm, led by CEO Tony Smith, focuses on providing multi-family office services. NewEdge's pillar channel was introduced in 2023 to transact and partner with rapidly growing advisor practices. These advisors adopt the NewEdge name but can also maintain relevant sub-branding for their local market. They also have a more standardized tech stack and investment suite than those in the 1099 channel. “Our pillar program is really geared to find teams like Stonegate—incredible practitioners that have broken throug
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