NewEdge Wealth, NewEdge Capital Group’s invite-only RIA serving ultra-wealthy clients with about $18.5 billion in client assets, has added Christopher Ayer as a principal. Ayer joins from Pallas Capital Advisors, a Braintree, Mass. RIA, where he served as senior vice president of wealth management, and will establish the firm’s first New Hampshire office in Portsmouth.
NewEdge declined to disclose Ayer’s assets under management. Anne-Michael McGrath is also joining his team from Pallas as a vice president of client service.
Ayer has a background in wealth protection and tax mitigation strategies for closely held businesses, especially franchise owners.
“Chris has established a reputation for helping closely held business owners, executives and high net worth families navigate the complexities of their financial needs,” said Rob Sechan, co-founder and CEO of NewEdge Wealth, in a statement. “He has joined the NewEdge team to enhance the services and solutions he can deliver to his clients.”
Prior to joining Pallas, he was registered with Goss Advisors, the predecessor to NewEdge, for less than a year, according to regulatory filings. Before that, he was an advisor and managing director at Ameriprise, with a focus on tax, estate and generational wealth planning. He also held senior vice president positions at UBS and Smith Barney.
NewEdge Wealth launched in December 2020 and has grown to 14 offices, including locations in Atlanta, Miami, Nashville and San Francisco.
Originally Goss Advisors, co-founders and co-CEOs Alex Goss and Neil Turner joined EdgeCo Holdings as the basis for a 1099 wealth management division in 2020. NewEdge Advisors was created the following year with the launch of parent company NewEdge Capital Group, comprising the platform for independent advisors (which now offers a W-2 option), NewEdge Wealth and a brokerage. The firm also has a robust in-house technology division.
EdgeCo is backed by Parthenon Capital and Waterfall Asset Management.
