NewEdge Advisors Lures $580 Million Team Formerly With J.P. Morgan Securities
New Orleans-based registered investment adviser NewEdge Advisors LLC announced that Fortis Wealth Advisors, a Dallas-based team, has joined the firm from J.P. Morgan Securities where they were overseeing approximately $580 million in client assets.
“We are proud to welcome Fortis Wealth Advisors to the NewEdge Advisors family,” said Neil Turner, co-chief executive officer and co-founder of NewEdge Advisors. “This team is passionate about their work and greatly values the adviser-client relationship. Erik, Ben, Shawn, and Kris have positively impacted many people and families across their esteemed careers, and we are thrilled to have them on board.”
“We give our advisers more time, resources, and solutions to help achieve their clients’ goals. We look forward to supporting Fortis Wealth Advisors’ continued growth and success,” added Turner.
Founders and long-time colleagues Erik Linstrom, Ben Roth, Shawn Stanley and Kris Cawthon, each boasting more than 20 years of industry experience, teamed up to launch Fortis Wealth Advisors based in Dallas. The team chose Goldman Sachs Custody Solutions as their primary custodian.
“With a deep history of serving multigenerational clients, coupled with Goldman Sachs Custody Solutions’ ability to provide access to institutional-grade solutions, we believe Fortis Wealth Advisors, in collaboration with NewEdge Advisors, is well-positioned to succeed in the independent space. We are excited that Goldman Sachs Custody Solutions can help the team continue delivering excellence,” said Jeremy Eisenstein, managing director at Goldman Sachs.
“We were looking for an RIA to provide the infrastructure to support our continued growth in an environment that allows us the flexibility to enhance our client service. We were drawn to NewEdge Advisors’ robust portfolio management solutions, which drive significant time and cost efficiencies,” said Cawthon, Fortis founder and director of operations.
“Choosing Goldman Sachs Custody Solutions to safeguard our clients’ assets was not a choice we made lightly, and we are excited to offer their solutions and insights to our clients. Going independent will allow us to focus even more on what matters most to us, the client relationships we’ve built over the years,” he added.
Fortis Wealth Advisors is just the latest firm to join NewEdge. As previously reported by The DI Wire, Michigan-based Stonebridge Financial Partners joined the firm earlier this month from Carson Wealth where the firm was overseeing approximately $540 million in client assets.
New Orleans-based NewEdge Advisors is a registered investment adviser founded by Alex Goss and Turner. Previously known as Goss Advisors, the firm became a part of EdgeCo Holdings in 2020 to lead the 1099 wealth division. In 2021, NewEdge Advisors was created as a part of the launch of NewEdge Capital Group.
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