NewEdge Advisors Buys $6B Stonegate Investment Group

NewEdge Advisors, the RIA platform owned by NewEdge Capital Group, has acquired Birmingham, AL-based Stonegate Investment Group, marking an addition to the firm’s pillar channel. 

Stonegate Investment Group, which oversees about $6 billion in assets under management, brings 13 employees to NewEdge and boosts the firm’s pillar channel to over $14 billion in client assets. 

The firm, which is led by CEO Tony Smith, was launched in 2021, after the team was previously affiliated with UBS Financial Services, according to BrokerCheck.

The firm also offers wealth management, risk management, insurance services, investment management, asset management, and estate planning, per the firm’s website. 

“[Stonegate Investment Group’s] decision to join NewEdge Advisors was made with one goal in mind: to better serve our clients for the long term,” Smith said. “This partnership strengthens the infrastructure, resources, and continuity supporting our client relationships, allowing us to focus even more on delivering thoughtful, personalized advice without compromise.” 

NewEdge Advisors launched its pillar channel in 2023 to serve as a partner for wirehouse breakaway teams and financial advisors that are launching their own practices. As part of the employee channel, advisors and firms are enabled to adopt NewEdge’s name, but can also continue using their own branding for their respective markets. 

The channel includes 14 advisory teams across the West Coast to Southeast regions, NewEdge Advisors said. 

Earlier this month, NewEdge Advisors added White Plains, NY-based Seven Bridges Wealth Advisors, a 14-member team which oversaw about $1 billion in total client assets, to itsplatform. 

Pittsburgh, PA-based NewEdge Capital Group, founded in 2020, manages more than $88 billion in assets under management as of December 31, the firm said.

Pictured: Stonegate Investment Group