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NewEdge Advisors Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

NewEdge Advisors LLC is a Baton Rouge-based advisory firm with billions in assets under management (AUM). The fee-based financial advisor serves a range of individual and institutional clients. Though NewEdge specializes in investment advisory services, it offers numerous other wealth management services. 

NewEdge Advisors LLC Background 

Established in 1981, NewEdge Advisors is the new brand name for the merger of GWM Advisors and Mid Atlantic Financial Management. GWM Advisors survived, which was owned by Goss Advisors. Goss was a partnership that began conducting business in 2012. Jerry Gross is the firm’s chairman, founder and advisor while Alex Gross serves as a co-founder, advisor and CEO. George F. Sins III is chief investment officer (CIO). 

The firm’s team includes two members with the chartered financial analyst (CFA) designation. 

NewEdge Advisors has earned the Financial Times’ Top 300 Financial Advisers awards in 2017, 2018, 2019 and 2020. The awards are primarily based on AUM, years in existence, asset growth, credentials and other factors. 

NewEdge Advisors Client Types and Minimum Account Sizes

NewEdge serves individuals and high-net-worth individuals, charitable organizations, trusts, estates, pension and profit-sharing plans, corporations and other businesses. 

The firm’s minimum account size varies based on account type. NewEdge utilizes advisory programs, and the minimum requirements for these programs generally range from $15,000 to $100,000. 

Services Offered by NewEdge Advisors 

NewEdge offers the following advisory services: 

  • Portfolio management
  • Financial planning
  • Pension consulting 
  • Selection of other advisors 

NewEdge Advisors Investment Philosophy

NewEdge says on its website that its mission is to help its clients develop a clear financial plan for the future. In working toward this mission, the firm employs various securities analysis methods when conducting investment research. These include charting analysis, cyclical analysis, mutual fund and/or exchange-traded fund (ETF) analysis, third-party money manager analysis, technical analysis and fundamental analysis

The firm utilizes an array of investment strategies and products, including asset allocation, debt securities, ETFs and mutual funds, fixed income investing, long- and short-term purchases, margin transactions, short sales, individual stocks, options and trading.

Fees Under NewEdge Advisors 

For financial planning and consulting services, NewEdge charges on a flat-fee basis for both one-time and ongoing financial planning and consulting. Annual flat fees for such services don’t exceed $200,000. The firm may charge asset-based or flat fees for pension consulting services. Asset based fees for these services won’t exceed 1.50% of AUM, and annual flat fees won’t exceed $60,000. 

NewEdge clients pay fees for referrals to third-party advisors, and clients using advisory programs encounter fees up to 3.00% of AUM. Wrap fee clients pay fees that don’t exceed 2.50%, while non-wrap clients incur transaction fees from trades carried out by their custodian.

What to Watch Out For 

Representatives of the firm are licensed as broker-dealers, allowing them to earn commissions from the sale of certain investment products. This can create a conflict of interest if advisors favor such products over other investments that may be more suitable to a client’s needs. However, the firm says it honors its fiduciary obligation to work in each client’s best interest. 

The firm’s latest Form ADV filed with the SEC lists two disclosures. The firm was accused of breaching its fiduciary duties to certain clients and failed to disclose adequately matters related to its mutual fund share class selection practices and the fees the firm received. The firm was provided with a ensure and cease and desist as well as paying a $300,000 fine to go along with a disgorgement of $900,069.

Opening an Account With NewEdge Advisors 

Are you interested in investing with NewEdge Advisors? To set up an appointment with an advisor, you can visit the firm’s New Orleans office, or you can call the firm at (504) 609-3694.

All information was accurate as of the writing of this article.

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How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research