NEW YORK, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Goldman Sachs Custody Solutions (“GSCS”), a modern custodial provider for independent advisors, will now serve as a select custodian for NewEdge Wealth and NewEdge Advisors, subdivisions of NewEdge Capital Group. Both well known for delivering differentiated solutions to seasoned advisors, GSCS and NewEdge Capital Group are collaborating to deliver industry-leading service and support to address the evolving needs of sophisticated advisors and the clients they serve. This relationship was solidified when two NewEdge teams, Fortis Wealth Advisors and Lehigh Valley, recently selected GSCS as their primary custodian.

“Goldman Sachs Custody Solutions is thrilled to continue our collaboration with NewEdge Capital Group,” said Jeremy Eisenstein, Managing Director at Goldman Sachs. “Their commitment to providing a high level of service for clients with complex needs aligns with our mission to empower advisors with a digital-forward custodial solution and institutional support. This relationship is a testament to our dedication in elevating the advisor experience.”

The combination of GSCS’s institutional capabilities with NewEdge Capital Group’s infrastructure aims to support next-gen talent and create a unique environment for advisors who are looking to take their services to the next level.

“At NewEdge, we take pride in being an open-architecture firm, prioritizing products and solutions that best serve our advisors and their clients—including custody services,” said Rob Sechan, Co-Managing Partner of NewEdge Capital Group and CEO of NewEdge Wealth. “We are thrilled to welcome GSCS as a new custody partner for both NewEdge Wealth and NewEdge Advisors.”

“NewEdge Capital Group’s long-standing relationship with GSCS has been grounded in a shared vision for excellence in advisory services,” said Alex Goss, Co-Managing Partner of NewEdge Capital Group and CEO of NewEdge Advisors. “This next step will further deepen our ability to offer innovative solutions and unparalleled support to growth-oriented advisors. The integration of GSCS’s elite custodial services with our cutting-edge infrastructure represents a significant advancement for our advisors.”

About Goldman Sachs Custody Solutions

Goldman Sachs Custody Solutions offers clients of independent advisors access to institutional-grade solutions and custody services. We transform the client experience with an intuitive, digital-forward platform to enhance your advisor’s transparency. Our modern, nimble, and ever-evolving open architecture network connects advisors to best-in-class services and tools. More than just a custodian, we are a gateway to the institutional power of Goldman Sachs.

Custody, clearing and certain brokerage services are offered by Folio Investments, Inc., d/b/a Goldman Sachs Custody Solutions (“GSCS”), a registered broker-dealer and member FINRA/MSRB/SIPC. Additional brokerage services are provided by Goldman Sachs & Co. LLC (“GS&Co.”), which is an SEC-registered broker-dealer and investment adviser, and member FINRA/MSRB/SIPC. Research GSCS and GS&Co. at FINRA's BrokerCheck. The information provided here shall not constitute an offer, solicitation, or advice by GSCS or GS&Co. to buy or sell securities.

About NewEdge Capital Group

NewEdge Capital Group and its subsidiaries collectively trace their roots back over 30 years and provide best-in-class technology-enabled solutions and support services to financial advisors and their clients. NewEdge Wealth is designed to meet the needs of ultra high net worth, family office and institutional clients and the advisors that serve them. NewEdge Advisors embraces a transparent approach to educating advisors on the independent opportunities that currently exist and offers multiple affiliation models, including direct 1099 and W-2.

Today, NewEdge Capital Group, a Barron’s Top 100 RIA Firm and Forbes’ America’s Top RIA Firm*, has over $55 billion in client assets serviced** and supports over 400 financial advisors servicing several thousand households, family offices, and institutions comprising of more than 75,000 client accounts.

*Barron’s rankings awarded in September 2023 based on prior 12 month data. Forbes/Shook rankings awarded in October 2023 based on data from 3/31/22-3/31/23. Neither NewEdge Capital Group nor its employees pay a fee in exchange for these rankings.

**Assets “serviced by” the firm includes (i) client assets for which we provide investment advisory services, (ii) client assets for which we provide brokerage services through our affiliate, NewEdge Securities, Inc. and (iii) client assets held at unaffiliated broker-dealers for which we provide supervisory oversight and support services.