PITTSBURGH, PA & NEW ORLEANS, LA — EdgeCo Holdings, L.P. (“EdgeCo”) announced today it has entered into a definitive agreement with GWM Advisors LLC (“Goss Advisors”). Goss Advisors, a leading New Orleans-based RIA supporting independent financial advisors nationwide, will join EdgeCo’s wealth division, which includes the wealth management operations of Mid Atlantic Capital Group, Inc. (“Mid Atlantic”). The transaction is expected to close prior to the end of the year, subject to customary closing conditions.
Goss Advisors, honored as a Financial Times Top 300 Financial Adviser four years running, provides a platform for independent advisors to thrive in their individual practices. The firm, founded by industry veterans Jerry Goss, Alex Goss and Neil Turner, serves over 100 independent advisors nationwide with approximately $8 billion in brokerage and advisory assets.
This agreement with Goss Advisors marks the 6th transaction for EdgeCo, a leading provider of technology-enabled solutions for financial intermediaries and their clients. It also greatly expands the firm’s footprint in the wealth management business and its support for independent financial advisors. “We are pleased to partner with Goss Advisors. They are revolutionizing the industry by delivering a flexible yet robust service offering for the independent advisor market. We’re excited to help them expand the tools, resources, and retirement offerings for their current and future advisors as well as introduce Goss Advisors’ concepts to Mid Atlantic’s existing partner base,” said Timothy Friday, Institutional Services Group CEO of Mid Atlantic.
For Goss Advisors, this agreement reinforces the continuation of its mission. “We founded this organization to give successful advisors more time, margin, flexibility, and resources so they could grow their practices,” remarked Alex Goss, CEO & Founder of Goss Advisors. Mr. Goss continued, “As part of EdgeCo, our access to its industry-leading technology and deep resources will allow us to ramp up our advisor recruiting efforts while enhancing our service levels and value proposition for our existing advisors. We consider our advisors to be family and we couldn’t be more thrilled about what this means for them.”
Executives of Goss Advisors will maintain significant ownership in the newly combined company and will continue to lead Goss Advisors while driving the overall wealth management division to new levels. All employees and offices will be retained as part of the transaction, resulting in continuity for all financial advisor partners of Goss Advisors.
Through its subsidiaries, EdgeCo is a leading provider of best-in-class technology-enabled solutions for financial intermediaries and their clients. For over four decades, EdgeCo companies have provided a suite of technology and support services including full-service retirement plan administration, brokerage, advisory, and trust and custody services to a diverse national client base of financial intermediaries. This client base includes registered representatives, investment advisors, and other financial intermediaries including retirement plan recordkeepers, TPAs, bank trust departments, broker dealers, and insurance companies. The firm services approximately $130 billion in client assets under custody or administration and more than 15,000 financial advisors and 500 financial institutions.
About Goss Advisors
New Orleans-based Goss Advisors is a rapidly growing partnership RIA built by financial advisors and collectively shared with other successful advisors and teams. The firm, which embraces a transparent approach to educating advisors on the myths of independence, continues to attract top-performing advisors from across the country. For more information, please visit www.gossadvisors.com.