Advisor Moves · RIA · M&A
NewEdge Buys Out $6B UBS Breakaway's RIA in Milestone for Enterprise Equity Model
NewEdge added Birmingham-based Stonegate Investment Group, a $6 billion advisory practice, to the Pillar Channel of NewEdge Advisors — its largest buy yet for the employee-affiliation model.
By Advisor News Network
June 4, 2026
4 min
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UBS--
Transition:Stonegate Investment GroupNewEdge
$6MAUM
NewEdge Capital Group has notched its largest buy yet for its nascent employee "Pillar" channel. The move reflects the continued evolution of the wealth management space as it is increasingly being shaped by the emergence of scaled advisor platforms offering capital, infrastructure and enterprise participation.
NewEdge announced that it added Birmingham-based Stonegate Investment Group, a $6 billion advisory practice, to the Pillar Channel of NewEdge Advisors — its W-2 affiliation model designed for established advisory teams seeking liquidity and growth capital while maintaining client continuity. The 13-person team is led by industry veteran Tony Smith, who founded Stonegate in 2021 after departing UBS with his team following more than a decade at the wirehouse.
With Stonegate's addition, NewEdge's Pillar Channel now represents more than $14 billion in client assets across 14 advisory teams — nearly doubling the size of the employee-affiliation program since its launch in 2023.
While financial terms were not disclosed, the transaction reflects a broader trend that has been unfolding across the wealth management ecosystem: the increasing attractiveness of enterprise-level equity participation for advisory teams.
One of the defining characteristics of the NewEdge model is optionality. Advisors joining the platform can determine how they want to affiliate, how much of their practice they want to monetize, and how much equity they want to take in the broader enterprise.
TagsNewEdgeStonegate Investment GroupUBSEnterprise EquityRIA
