Goldman Sachs Custody Solutions and NewEdge Capital Group Announce Strategic Collaboration to Provide Enhanced Services to RIAs
Goldman Sachs Custody Solutions (GSCS) and NewEdge Capital Group have announced a strategic collaboration to enhance services for Registered Investment Advisors (RIAs). GSCS will serve as a preferred custodian for NewEdge Wealth and NewEdge Advisors, subdivisions of NewEdge Capital Group. This partnership aims to deliver industry-leading service and support to address the evolving needs of sophisticated advisors and their clients.
Two NewEdge teams, Fortis Wealth Advisors and Lehigh Valley, have already selected GSCS as their primary custodian. The collaboration combines GSCS's institutional capabilities with NewEdge Capital Group's infrastructure to support next-gen talent and create a unique environment for advisors looking to elevate their services. Both companies emphasize their commitment to providing high-level services for clients with complex needs and empowering advisors with digital-forward custodial solutions and institutional support.
Goldman Sachs Custody Solutions (GSCS) e NewEdge Capital Group hanno annunciato una collaborazione strategica per migliorare i servizi destinati ai Registered Investment Advisors (RIAs). GSCS fungerà da custode preferito per NewEdge Wealth e NewEdge Advisors, sottodivisioni di NewEdge Capital Group. Questa partnership mira a offrire un servizio e supporto di livello superiore per soddisfare le esigenze in evoluzione di consulenti sofisticati e dei loro clienti.
Due team di NewEdge, Fortis Wealth Advisors e Lehigh Valley, hanno già selezionato GSCS come loro custode principale. La collaborazione combina le capacità istituzionali di GSCS con l'infrastruttura di NewEdge Capital Group per supportare i talenti di nuova generazione e creare un ambiente unico per i consulenti che desiderano elevare i propri servizi. Entrambe le aziende sottolineano il loro impegno a fornire servizi di alto livello per clienti con esigenze complesse e a potenziare i consulenti con soluzioni custodian digitali all'avanguardia e supporto istituzionale.
Goldman Sachs Custody Solutions (GSCS) y NewEdge Capital Group han anunciado una colaboración estratégica para mejorar los servicios para los Registered Investment Advisors (RIAs). GSCS actuará como custodio preferido para NewEdge Wealth y NewEdge Advisors, subdivisiones de NewEdge Capital Group. Esta asociación tiene como objetivo ofrecer un servicio y soporte de primer nivel para abordar las necesidades en evolución de asesores sofisticados y sus clientes.
Dos equipos de NewEdge, Fortis Wealth Advisors y Lehigh Valley, ya han seleccionado a GSCS como su custodio principal. La colaboración combina las capacidades institucionales de GSCS con la infraestructura de NewEdge Capital Group para apoyar a los talentos de próxima generación y crear un entorno único para los asesores que buscan elevar sus servicios. Ambas empresas enfatizan su compromiso de brindar servicios de alto nivel a clientes con necesidades complejas y empoderar a los asesores con soluciones custodian digitales avanzadas y soporte institucional.
Goldman Sachs Custody Solutions (GSCS)와 NewEdge Capital Group은 등록 투자 고문(RIAs)을 위한 서비스 향상을 목표로 하는 전략적 협력을 발표했습니다. GSCS는 NewEdge Wealth와 NewEdge Advisors의 선호하는 수탁자로서 역할을 하게 됩니다. 이 파트너십은 정교한 고문과 그들의 고객의 변화하는 요구를 충족시키기 위해 업계 최고의 서비스 및 지원을 제공하는 것을 목표로 하고 있습니다.
NewEdge의 두 팀인 Fortis Wealth Advisors와 Lehigh Valley는 이미 GSCS를 그들의 주요 수탁자로 선택했습니다. 이 협력은 GSCS의 기관 역량과 NewEdge Capital Group의 인프라를 결합하여 차세대 인재를 지원하고 서비스를 향상시키고자 하는 고문들을 위한 독특한 환경을 조성합니다. 두 회사는 복잡한 요구를 가진 고객을 위한 고급 서비스를 제공하고 디지털 중심의 수탁 솔루션과 기관 지원을 통해 고문을 강화하겠다는 그들의 약속을 강조하고 있습니다.
Goldman Sachs Custody Solutions (GSCS) et NewEdge Capital Group ont annoncé une collaboration stratégique pour améliorer les services destinés aux Registered Investment Advisors (RIAs). GSCS agira en tant que custodien privilégié pour NewEdge Wealth et NewEdge Advisors, des subdivisions de NewEdge Capital Group. Ce partenariat vise à offrir un service et un soutien de niveau industriel afin de répondre aux besoins évolutionnaires des conseillers sophistiqués et de leurs clients.
Deux équipes de NewEdge, Fortis Wealth Advisors et Lehigh Valley, ont déjà choisi GSCS comme leur principal custodian. La collaboration combine les capacités institutionnelles de GSCS avec l'infrastructure de NewEdge Capital Group pour soutenir les talents de la prochaine génération et créer un environnement unique pour les conseillers cherchant à élever leurs services. Les deux entreprises soulignent leur engagement à fournir des services de haut niveau pour les clients ayant des besoins complexes et à autonomiser les conseillers avec des solutions de garde numériques avancées et un soutien institutionnel.
Goldman Sachs Custody Solutions (GSCS) und NewEdge Capital Group haben eine strategische Zusammenarbeit angekündigt, um die Dienstleistungen für die Registered Investment Advisors (RIAs) zu verbessern. GSCS wird als bevorzugter Verwahrer für NewEdge Wealth und NewEdge Advisors, Untereinheiten der NewEdge Capital Group, fungieren. Diese Partnerschaft zielt darauf ab, branchenspezifische Dienstleistungen und Unterstützung anzubieten, um den sich wandelnden Bedürfnissen von anspruchsvollen Beratern und deren Kunden gerecht zu werden.
Zwei NewEdge-Teams, Fortis Wealth Advisors und Lehigh Valley, haben bereits GSCS als ihren Hauptverwalter ausgewählt. Die Zusammenarbeit kombiniert die institutionellen Möglichkeiten von GSCS mit der Infrastruktur der NewEdge Capital Group, um Talente der nächsten Generation zu unterstützen und eine einzigartige Umgebung für Berater zu schaffen, die ihre Dienstleistungen verbessern möchten. Beide Unternehmen betonen ihr Engagement, hochrangige Dienstleistungen für Kunden mit komplexen Bedürfnissen anzubieten und Berater mit digitalen, zukunftsorientierten Verwahrungslösungen und institutioneller Unterstützung zu stärken.
- Strategic collaboration between Goldman Sachs Custody Solutions and NewEdge Capital Group
- GSCS selected as preferred custodian for NewEdge Wealth and NewEdge Advisors
- Two NewEdge teams have already chosen GSCS as their primary custodian
- Combination of GSCS's institutional capabilities with NewEdge's infrastructure to support next-gen talent
- None.
Insights
This strategic collaboration between Goldman Sachs Custody Solutions (GSCS) and NewEdge Capital Group marks a significant development in the RIA (Registered Investment Advisor) space. By adding GSCS as a preferred custodian, NewEdge is expanding its service offerings, potentially enhancing its competitive position. This move could lead to increased assets under management and improved revenue streams for both entities.
The partnership leverages GSCS's institutional capabilities and NewEdge's infrastructure, which may result in operational efficiencies and cost savings. For investors, this collaboration could translate to enhanced service quality and potentially lower fees. However, the actual financial impact remains to be seen, as no specific financial figures or projections were provided in the announcement.
This collaboration reflects a broader trend in the wealth management industry towards consolidation and strategic partnerships. It's a response to the increasing demand for sophisticated financial services among high-net-worth individuals. By joining forces, GSCS and NewEdge are positioning themselves to capture a larger share of this growing market.
The move also highlights the importance of technological integration in modern wealth management. GSCS's "digital-forward custodial solution" aligns with the industry's shift towards more tech-savvy platforms. This could appeal to younger, tech-oriented clients and advisors, potentially expanding the client base for both firms. The partnership's success will likely depend on how well they execute this integration and deliver on their promise of enhanced services.
NewEdge Capital Group Adds Goldman Sachs Custody Solutions as a Preferred Custodian
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
*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.
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