New Edge Wealth

CRD#307771
Investment Advisor Firm

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Overview

New Edge Wealth operates as an advisory firm located in Stamford, Connecticut. The company handles $4.4 billion in assets under management throughout 3,283 customer accounts, placing it among the largest investment advisory firms in the country by assets under management (AUM). It has an average-sized team, including 25 financial advisors. New Edge Wealth is not a registered broker-dealer, signifying that the advisor cannot buy and sell securities for its accounts and those of its clients and instead is required to go through a broker-dealer company to do so. Securities are defined as tradable financial investments like stocks, options and bonds.

New Edge Wealth manages most of the firm's accounts on a discretionary basis. Discretionary management is a structure in which buy and sell choices for the client's account are made by a portfolio manager without requiring the customer's authorization. The company also has 494 non-discretionary accounts totaling $836.8 million in assets under management. The firm manages about $1.3 million for each client account. The typical financial advisor at New Edge Wealth administers around 131 client accounts.

New Edge Wealth’s main office is located at 2200 Atlantic Street, Stamford, Connecticut 6902. The company is legally registered to provide services to customers throughout 51 U.S. states and territories.

Assets Under Management

$4.4 billion

Number of Advisors

25

Disclosures

No

Office Location

2200 Atlantic Street
Stamford, CT 06902

New Edge Wealth by the Numbers

Total Assets Under Management

$4.4 billion

National Average: $9.0 billion
Total Number of Employees

42

National Average: 71,771
Total Number of Accounts

3,283

National Average: 4,329
Average Account Size

$1.3 million

National Average: $2.1 million

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Products and Services

New Edge Wealth offers a number of financial services, including financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services and selection of other advisers. In the last fiscal year, New Edge Wealth provided financial planning services to 25-Nov of its customers. The company does not sell products or offer services apart from investment advice to its investment advisory clients. New Edge Wealth is affiliated with a number of other companies in the financial services industry, including with a broker-dealer or securities dealer, trust company and insurance company or agency.

Core Advisor Services

  • Offered by 31% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 47% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 21% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Find a firm that offers this service

    Publication of Periodicals

    This is the publication of various financial education materials.

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    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Financial advisory fees vary depending on which service is offered. Fees charged by New Edge Wealth may include the following fee structures: asset-based or fixed. New Edge Wealth participates in a wrap fee program, in which the company offers a service bundle for a single fee.

Available

  • Offered by 70% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 33% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 21% of firms that offer this fee type

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Find one of the 1% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 26% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 0% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 10% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

It provides services to retail investors and high net worth investors. Out of its 3,283 accounts, New Edge Wealth's biggest client is high net worth investors, but it also caters to 464 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 under management or a net worth of at least $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 1% of the firm's accounts are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 66.67%
  • Other Individuals - 33.33%
  • Corporations - 0%
  • Charitable Organizations - 0%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

New Edge Wealth does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at New Edge Wealth

Michael Fomuke
Stamford, CT
Kevin Miller
Darien, CT
Alec Zager
Stamford, CT
Anna Reyes Stockhamer
Stamford, CT
Jay Peters
Stamford, CT
John Straus
Darien, CT
Benjamin Lope
Darien, CT

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The content in this profile was updated by SmartAsset on 04/01/2022 using publicly available data compiled from the SEC and FINRA. To report any data inconsistencies or errors, please contact profile-compliance@smartasset.com.

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