NewEdge Wealth Adds AllianceBernstein Team to Launch Houston Office
NewEdge Wealth expands into Houston by hiring an AllianceBernstein team. The move underscores continued RIA growth and poaching of talent from major firms.
NewEdge Wealth has hired an AllianceBernstein team to lead its new Houston office, according to the firm. The move adds to NewEdge's expanding footprint and signals increased competition for advisory talent.
The addition comes as part of a broader wave of moves in the wealth management industry. Steven Capital, with $800 million in assets, has acquired a CPA firm that brings 300 tax clients. Wealth Enhancement has also acquired two firms with a combined $854 million in assets.
In Chicago, Maridea and Janney have both expanded their presence, further intensifying the competitive landscape in key markets.
These moves reflect a trend among RIAs and wealth management firms to grow through strategic acquisitions and talent acquisitions, often poaching established teams from larger institutions.
