NewEdge Advisors Implements Employee Affiliation Model

NewEdge Advisors, a registered investment advisor based in New Orleans, said Thursday it will now offer advisors an employee affiliation model, which it calls the W2 model, in addition to the independent or 1099 model.

In the new employee model, breakaways and other consultants who join NewEdge Advisors will operate under the NewEdge brand and NewEdge will invest in their business. NewEdge will also be acquiring outgoing consultant practice at such firms.

The firm said the first group to join the new employee model is Reinke Gray Wealth Management, which joined NewEdge in 2018 under an independent model. The South Dakota firm, headed by Brad Reinke, controls $400 million in assets.

NewEdge Advisors, founded by Alex Goss and Neil Turner, currently has 265 affiliated advisors in 32 states that oversee $16.5 billion in assets.

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