NewEdge Wealth has expanded its reach in Pennsylvania with a team of four advisors joining the firm from Morgan Stanley.
It’s the second breakaway announcement made by the firm in the last week following the arrival of a team of eight in Florida who jumped ship from Merril Lynch, adding to NewEdge’s strong growth that has pushed AUM to a new record high of more than $55 billion.
The Pennsylvania team is from Allentown and to quote the eponymous Billy Joel classic: “the restlessness was handed down and it’s getting very hard to stay” – perhaps a feeling shared by the team led by Paul Emrick.
“We are excited to join the NewEdge Wealth team as we seek to level up and return to our independent roots,” he said. “The culture at NewEdge could not be a better fit. We can now deliver the combined breadth and depth of insights and digital-forward solutions from NewEdge and Goldman Sachs Custody Solutions [selected as the team’s primary custodian]. We’re thrilled to continue to deliver for our clients and help the NewEdge team continue to grow.”
Former US Army officer Emrick led a Private Wealth Management team at Morgan Stanley for more than a decade and is joined in the move from the Wall Street firm by portfolio strategist Matt Mongon, along with associates Monica Dougherty and Nathan Emrick.
Emrick had previously held roles at JP Morgan Private Bank and MFP Strategies while Mongon previously held a senior role in managing Lehigh University’s $1.6 billion endowment fund and was also a senior consultant and director of investment research for MFP Strategies.
“Paul, Matt and the team have the expertise and experience to provide comprehensive wealth planning and advice to entrepreneurs and their families, as well as corporate retirement plans, endowments and foundations. They will serve as an invaluable resource as an anchor of our expansion into Pennsylvania,” said Rob Sechan, CEO of NewEdge Wealth. “We are confident they will be a vital part of NewEdge Wealth as we continue to deliver the services sought by high net worth and ultra-high-net-worth investors.”
It's a showdown for the ages as wealth managers assess its impact on client portfolios.
CEO Ritik Malhotra is leveraging Savvy Wealth's Fidelity partnership in offers to Commonwealth advisors, alongside “Acquisition Relief Boxes” filled with cookies, brownies, and aspirin.
Fraud losses among Americans 60 and older surged 43 percent in 2024, led by investment schemes involving crypto and social manipulation.
The alternatives giant's new unit, led by a 17-year veteran, will tap into four areas worth an estimated $60 trillion.
"It's like a soap opera," says one senior industry executive.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
