NewEdge Advisors Review

Pros and Cons of NewEdge Advisors

Types of Clients

NewEdge Advisors serves individual clients, including those with a high net worth. It also offers solutions to institutional investors and entities, including corporations, pension funds, trusts, and estates.

According to its Form ADV Brochure 2A, the firm doesn’t have specific account minimums for a variety of its services. However, investment management accounts sponsored by LPL Advisory Programs require $5,000 to $250,000, depending on the services.

Financial Advisor Services

NewEdge Advisors offers both discretionary and non-discretionary advisory services to its clients. These include investment management and financial planning/consulting, which are tailored to fit your needs.

Below is a more specific breakdown of each solution NewEdge Advisors provides:

Portfolio Management

Investment management is a core offering of NewEdge Advisors. The firm provides either discretionary or non-discretionary investment management. It does so via the following programs:

• Wrap-Fee. This program requires you to pay one fee for investment management, including custodial and transaction fees, in the cost.
• NEA Non-Discretionary Advisory. This is an arrangement where advisors recommend investments and portfolio tactics, but you’re responsible for implementing them.
• NEA Advisory. This is a discretionary program that allows an investment manager to select and trade assets on your behalf. An advisor may also invest in a model portfolio depending on your goals, risk tolerance, and time horizon.
• LPL Sponsored Advisory. This program allows NewEdge Advisors to offer you a range of investment management solutions via LPL Financial, tailored to your goals and account size.
• Manager of Managers. This program connects you with vetted third-party managers and provides ongoing oversight to ensure your investments stay aligned with your goals and risk tolerance.

Each investment management product, whether third-party or otherwise, is meant to be tailored to your goals, risk tolerance, and time horizon. When you first meet with an advisor, you’ll provide them with your preferences, and they’ll use that to either recommend or make investments for you.

Financial Planning

NewEdge Advisors also provides non-discretionary financial planning and consulting services for individuals, families, and businesses. A professional will provide a detailed review of your financial situation and goals. Then, they’ll recommend a comprehensive plan focusing on various areas, including:

• Retirement
• Your estate
• Taxes
• Education
• Insurance

Your financial plan can be either verbal or written, depending on the scope of the arrangement and your preferences. The firm also offers a subscription-based planning service through its solution, AdvicePay.

Fee Structure and Cost

NewEdge Advisors charges an annual advisory fee that generally does not exceed 2.50%, with exact fees outlined in each client’s advisory agreement. Fees are typically billed quarterly in advance, based on the account’s value at the end of the previous quarter, and are deducted directly from the account. What you pay varies by program and custodian, is negotiable, and may be reduced in certain cases, such as when commissions are received from underlying investment products.

The firm offers a variety of fee-based programs, including tiered pricing structures based on asset levels. For example, the Advisor’s Choice program starts at 2.25% and decreases as assets increase, while the Financial Product Management strategy begins at 2.50% for the first $50,000 in assets. Some services may also be offered under a flat-dollar fee agreement or a wrap fee arrangement, which bundles advisory, custodial, and brokerage services into one comprehensive charge.

For financial planning and consulting, NewEdge Advisors may charge a flat or an ongoing fee. The annual cost will generally not exceed $200,000, while hourly fees range from $0 to $500 per hour. These may be negotiable, depending on the scope of services you require.

Investment Philosophy

In its Form ADV Brochure 2A, NewEdge Advisors notes that its investment management approach is tailored to each investor’s goals, risk tolerance, and time horizon. That is, each client’s preferences are unique, warranting different asset allocations and portfolio structures. As a client, you’ll provide details about your objectives, and an advisor will either recommend or make investments for you accordingly.

Because NewEdge Advisors is an RIA firm, it must act in a fiduciary capacity at all times. Whether an advisor invests on your behalf or makes recommendations, it must be in your best interest.

Disclosures

NewEdge Advisors is registered as an investment advisor with the U.S. Securities and Exchange Commission (SEC). Because of this status, it must report conflicts of interest and disciplinary history involving it and its representatives as disclosures in its annual Form ADV. You may access this document for free by visiting the SEC’s Investment Adviser Public Disclosure (IAPD) search tool.

As of 2025, NewEdge Advisors has several disclosures on file, including a civil money penalty and disciplinary action against the firm or one of its representatives. While this may not necessarily be a dealbreaker, it’s important to pay close attention to a firm and the advisor you work with. If you have questions about specific conflicts of interest or regulatory events, you may be direct and ask a professional about them for more information.

Contact Information

If you need to contact NewEdge Advisors with any questions or concerns, the simplest way to do so is either by calling (504) 459-4391 or by directly contacting your advisor. The latter method is ideal if you’re working with a third-party firm to manage your portfolio or offer financial advice.

Methodology

This review is based on publicly available information directly from NewEdge Advisors’ website and the SEC. Neither the firm nor its representatives have any say on what we’ve included on this page.

Frequently Asked Questions

What is the minimum investment for NewEdge Advisors?

NewEdge Advisors doesn’t set specific account minimums for some services, like financial planning. However, for its LPL Advisory Sponsored program, you should have between $5,000 and $250,000 in investable assets to open an account. While a wide range, this signals that some of its investment management products are relatively accessible to most clientele.

Is NewEdge Advisors Good?

NewEdge Advisors is a well-established, large-scale RIA firm with over $27 billion in assets under management and a strong national presence. It ranked fifth on Barron’s 2024 list of top RIA firms (excluding mega firms), underscoring its reputation. The firm also offers a comprehensive range of services, including investment management and financial planning tailored to each client’s needs.

The firm does, however, have some drawbacks that you shouldn’t ignore. Some of its services, such as investment management, may be offered under third-party programs, such as through LPL Financial or other RIAs. The company also has disclosures on file, which warrant at least some concern. Overall, though, NewEdge is a solid option because of its breadth and customization of services.

Are NewEdge financial advisors fiduciaries?

Because of its status as an RIA firm with the SEC, NewEdge Advisors and its investment advisor representatives must adhere to a fiduciary duty at all times. This means that when a professional recommends an investment or trades on your behalf, it must be in your best interest. Additionally, potential conflicts of interest must be reported in the firm’s Form ADV.