A Dallas-based advisory team, managing approximately $580 million in client assets, will join NewEdge Advisors, the RIA partnership platform based in New Orleans, owned by NewEdge Capital Group. Fortis Wealth Advisors is composed of advisors Erik Linstrom, Ben Roth, Shawn Stanley, and Kris Cawthon; all of whom left J.P. Morgan Securities to join NewEdge Advisors, bringing extensive experience. The team will use Goldman Sachs Custody Solutions for custodial services.
“We were drawn to NewEdge Advisors’ strong portfolio management solutions, which generate significant time and cost efficiencies,” said Kris Cawthon. “Choosing Goldman Sachs to safeguard our clients’ assets was not a decision we took lightly, and we are excited to offer their solutions and expertise to our clients.”
Extensive and Solid Experience
The Fortis Wealth Advisors team joining NewEdge Advisors boasts extensive and solid experience among all its members. According to SEC records, Erik Linstrom worked at AllianceBernstein for several years before joining JPMorgan in 2010.
Ben Roth began his career in the industry in 1983 at PaineWebber, 41 years ago, and worked at several other firms before joining JPMorgan in 1996. Shawn Stanley worked briefly at Chase in 2000 before several other firms and joined JPMorgan in 2014. In 2004, Kris Cawthon worked at Merrill Lynch, then Morgan Stanley, and later Chase before joining J.P. Morgan Securities in 2013.
Exponential Growth
NewEdge Advisors is an RIA partnership platform formed in 2021 as part of NewEdge Capital Group, and its asset growth has been exponential, currently managing approximately $25 billion in assets according to their figures. Just last week, the firm announced that Stonebridge Financial Partners, an 18-member team based in Michigan with $540 million in client assets, joined from Carson Group.
Earlier this year, NewEdge attracted another Carson team: Nesso Wealth, based in Connecticut, a 20-person team overseeing $262 million. The team consisted of nine advisors and 11 support staff members.
NewEdge Advisors was originally Goss Advisors, co-founded by Alex Goss and Neil Turner in 2020, before the launch of its parent company the following year. NewEdge Capital Group includes NewEdge Wealth, which Goss described as predominantly focused on UHNW families. NewEdge Advisors operates as the company’s more traditional independent model.
