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November 17, 2020

Goss Advisors signs deal to join EdgeCo’s wealth division

New Orleans-based RIA GWM Advisors (Goss Advisors) has signed a definitive agreement to join EdgeCo Holdings’ wealth division.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

With around $8bn in brokerage and advisory assets, Goss Advisors serves more than 100 independent advisors across the US.

The transaction is expected to bolster EdgeCo Holdings’ financial advisory support operations and its wealth management business, which includes Mid Atlantic Capital Group.

Mid Atlantic Institutional Services Group CEO Timothy Friday said: “We are pleased to partner with Goss Advisors. They are revolutionising 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.”

As agreed, all Goss Advisors offices and staff will be retained, while its executives will continue to lead the business.

Goss Advisors founder and CEO Alex Goss said: “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.”

The transaction is expected to close this year, subject to customary closing conditions.

EdgeCo delivers technology-enabled solutions for financial intermediaries and their clients through its subsidiaries. It includes full-service retirement plan administration, brokerage, advisory, and trust and custody services.

The firm boasts around $130bn in client assets, under custody or administration.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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