The NewEdge
Solution

Delivering An Unmatched Client Experience
Let's Talk
Scroll

We knew that technology, investment solutions, management expertise and differentiated operational support were required to truly offer something distinct to our clients. At the end of 2019, EdgeCo Holdings acquired The Private Wealth Partners, a firm started by John Straus, Sr. and several private wealth senior executives from Morgan Stanley, JP Morgan, Merrill Lynch and UBS. Under John Straus’ leadership, this team is now part of NewEdge Wealth.

NewEdge Wealth offers a better framework for delivering resources to ultra-high net worth and institutional clients. The platform includes technology solutions from 30 different best-in-class vendors and investment content from partners like JP Morgan, Goldman Sachs, Morgan Stanley, Merrill Lynch, Fundstrat and Empirical Research. We work with elite advisors so they can operate their business with superior service, operational and cost efficiencies, and competitive advantages in order to deliver an unmatched client experience. We feel that this unique combination of resources delivers the best solution for our clients.

NewEdge Wealth

Business
Leadership

John Straus, Sr.

John was a Founder and Managing Partner of The Private Wealth Partners, which was acquired by EdgeCo Holdings to deliver the technology, investment solutions, private wealth management expertise and operational support for NewEdge Wealth. As the President of NewEdge Wealth, John is focused on managing all day to day aspects of the business. Earlier in his career, John led several major private wealth management firms and businesses. He was a Managing Director and Head of Private Wealth Management at UBS Wealth Management and Chairman of UBS Private Bank Americas. John also served as a Managing Director and Head of Private Banking in the United States for J.P. Morgan and as a Managing Director and Head of Private Wealth Management at Morgan Stanley. John began his career at Salomon Brothers and became the Head of Municipal Arbitrage and Municipal Trading. John received his Bachelor of Sciences degree in finance with honors from Boston College and his MBA from DePaul University.

David Schnier NewEdge Wealth

David J. Schnier, Esq.

As our general counsel and chief compliance officer, David is responsible for all legal and regulatory affairs impacting the business. Prior to joining NewEdge Wealth, David was a partner at The Private Wealth Partners where he was responsible for all legal matters and providing compliance support and administration to PWP and its RIA clients. Prior to that, David was the Head of Client Segment Risk Management at Morgan Stanley Smith Barney where he was responsible for the identification, management and mitigation of risk in the Private Wealth Management and International Wealth Management Divisions. Prior to that role, he was the Head of Advisory Law for Morgan Stanley Smith Barney’s Private Wealth Management Division. Prior to his employment at Morgan Stanley, David worked as in-house counsel for J. & W. Seligman & Co. and as a corporate lawyer at Paul Weiss Rifkind Wharton & Garrison in New York. David received his Bachelor of Arts in Philosophy from Rutgers University and his Juris Doctor from Georgetown University Law School.

David Down, NewEdge Wealth

David Down

Mr. Down serves as president and a director of Mid Atlantic Financial Management, Inc.- a registered investment advisor, Mid Atlantic Capital Corporation and Mid Atlantic Clearing & Settlement Corporation– both FINRA registered broker-dealers. From 1997 to 2018 he served as President and board member of Mid Atlantic Capital Group. He has been with the company since 1987. From 1997 to 2004 he served as the executive in charge of the asset management division, where he was responsible for research, development of proprietary investment programs, financial analysis, client reporting and operations and trading supervision. He also serves on the board of directors of Mid Atlantic Trust Company, First Mercantile Trust Company, and LPA Insurance Agency, Inc. Mr. Down is also President of Stonehaven Capital Management, LLC. He earned his Bachelor of Arts degree in Economics and Business (dual major) from the University of Pittsburgh. He earned his Master’s degree in Business Administration (with an emphasis in finance) from the University of Miami. He is a licensed representative, principal and options principal with the Financial Industry Regulatory Authority and an associated person of the Registered Investment Advisor.

Kyle Smith, NewEdge Wealth

Kyle Smith

Mr. Smith oversees advisor services, which includes investment management research, development and management of proprietary advisor-facing programs and services, advisor support services and customer data management and reporting. Mr. Smith rejoined Mid Atlantic in January 2005 after resigning in 2000 to serve as Chief Investment Officer of Longboat Capital Management. While at Longboat, Mr. Smith focused primarily on the firm’s hedge fund investment portfolios. Prior to Longboat, Mr. Smith served as a Vice President with MACG, in its product management area. Mr. Smith became licensed as a Certified Public Accountant while employed at the start of his career with the international accounting firm of Arthur Young. Mr. Smith received his B.S. Degree in Business Administration and Accounting from the University of Pittsburgh in 1986. He is a Registered Representative of the broker-dealer and holds the Series 3, 7, 24 and 63 securities licenses.

Shawn McCormick NewEdge Wealth

Shawn P. McCormick

Shawn leads New Edge Wealth’s investment solutions and product platform. Prior to joining NewEdge Wealth he was a partner of The Private Wealth Partner (PWP) where he was responsible for all product development. He joined PWP from Snowden Lane Partners, an independent wealth advisory firm. In that role, he was Vice President and Director of Investment Solutions, responsible for the development and implementation of the investment solutions platform, including managed account programs, third-party research, private banking solutions and insurance. He worked previously at Merrill Lynch, Pierce, Fenner & Smith as a senior financial analyst covering ultra-high net worth clients, and at T. Rowe Price Group, where he was a retirement specialist. Shawn holds a Bachelor of Business Administration and a Master of Science in Finance from Loyola University Maryland.

Jean Sesler

Ms. Sesler has been with Mid Atlantic since 2003 and is Manager of the Wealth Management Services Group. In this capacity, Ms. Sesler is responsible for overseeing retail brokerage operations, new account opening and maintenance, business process management functions, and day-to-day support of the Mid Atlantic advisor community. Prior to joining Mid Atlantic, Ms. Sesler worked at Dreyfus Investment Services Corporation which supported the retail brokerage division of BNY Mellon (then Mellon Bank). She held various positions including Brokerage Operations Manager. Ms. Sesler received her Bachelor of Science Degree in Business Administration from Robert Morris College in Pittsburgh PA. She is a Registered Representative of the broker-dealer and holds the Series 7, 24, 27 and 63 securities licenses.

Alexandra Meyers, NewEdge Wealth

Alexandra Meyers

Alex currently serves as the company’s go-to person for our advisor group clientele. As both the Advisor Group Transition Manager as well as the Relationship Manager, she is responsible not only for on-boarding new advisor representatives but also for familiarizing them with all that the platform has to offer to simplify their day-to-day processes. Alex strives to create an all-around positive experience for our advisor group clientele by ensuring all questions and concerns are addressed and resolved in a timely fashion. Alex received her Bachelor of Arts degree in Finance from Duquesne University in Pittsburgh PA.

Chris Broussard Chief Marketing Officer EdgeCo

Chris Broussard

As the Chief Marketing Officer for EdgeCo Holdings, Chris leads all the marketing efforts across EdgeCo, including NewEdge Wealth. He has been involved in financial services marketing and publishing for almost 25 years – having held senior-level positions with financial publishers, financial services corporations and providing marketing support and consulting services to financial institutions and independent financial advisors. Prior to joining EdgeCo, he was the Chief Marketing Officer and President of Tematica Research, LLC a thematic equity research and custom index provider. Earlier in his career, Chris was the Vice President and Chief Digital Officer for Eagle Publishing, Vice President of Marketing for Morgan Stanley Online and the Vice President of Marketing for FOLIOfn.

Nicole O’Connell

Nicole serves as VP, Custody Asset Movement & Control, where she oversees her department’s cash movement activities via ACH, wire transfer, check and journal, as well as internal and customer automated cash processing functions initiated via Mid Atlantic’s TNS system. In addition, she oversees asset movement via ACATS, physical transfer, and DTCC transfer processes. As part of Mid Atlantic’s customer cash disbursement services, Nicole’s oversees Federal and state tax withholding and reporting functions. Nicole received her B.A. from University of Pittsburgh. She is also a Certified IRA Specialist.

Scott Baer

Scott began his career in the finance industry in 1992 as a financial consultant. He began his Trading career in 1997 with Dreyfus Investment Services and was there three years when he accepted a Trader position with Mid Atlantic Capital Corp in early 2000. His Career at Mid Atlantic progressed into Sr. Equity Trader and onto Vice President where he now serves as Team Leader and manager of the MACC Trading Workgroup. Scott earned his BA degree in finance in 1991 from Robert Morris College. He is a Registered Representative with Mid Atlantic Capital Corp. and holds the Series 7, 63, 55 and 24 licenses.

Mary Jo Totten

Mary Jo Totten

Mary Jo is a seasoned Human Resource professional with a long track record of providing hands-on expertise across all aspects of the HR discipline. Mary Jo started her career in health services with The Mercy Hospital of Pittsburgh and continued in that healthcare space with HR roles at Allegheny General Hospital where she partnered and consulted at all levels of management in the development and implementation of direct staffing strategies for exclusive client divisions of the organization. She then moved on to Highmark/IMC (Industrial Medical Consultants) and became the HR Manager, providing human resources consultation to all levels of the management, physicians and employees within IMC and HMIG. From there, Mary Jo joined FedEx where she was the On-site HR Business Partner for Corporate Facility. As the primary point in serving 350 plus regional employees, Mary Jo worked directly on matters including Recruitment, Hiring, Disciplinary Action, Payroll and Benefit Administration, Employee and Labor Relations, Performance Management, Engagement and Separation.

EdgeCo

Executives

Charles A. Warden

  • Founder & Chairman, Mid Atlantic Capital Group
  • Director, EdgeCo Holdings

Mr. Warden formed the various companies that have now become Mid Atlantic Capital Group, Inc. and its affiliates. In 1990, Mr. Warden founded Pennsylvania Capital bank (now part of Huntington Bancshares). In 1995 he co-founded Mid Atlantic Institutional Shares, which grew to one of the nation’s largest money fund networks and mutual fund trading platforms and was acquired by Sungard. Mr. Warden was co-founder of Mid Atlantic Financial Platforms which has become part of Mid Atlantic Trust Company. Mr. Warden holds a B.S. in Engineering from the University of Pittsburgh, and an M.B.A. from the Joseph M. Katz Graduate School of Business at the University of Pittsburgh.

John Moody

  • Chief Executive Officer, EdgeCo Holdings

John Moody is Chief Executive Officer of EdgeCo Holdings. Under his leadership, EdgeCo is evolving a new national model to service retirement plan clients built on an expert organization leveraging best available technologies. The goal is greater personal service combined with cost-efficient processes that help people achieve better retirement outcomes. Prior to launching EdgeCo, John co-founded and was president of Matrix Financial Solutions, a leading custodian and mutual fund trading provider. He is considered a pioneer in the “open architecture” movement within the 401(k) industry and has long championed the need to create more flexibility and transparency in the system. In his more than 30 years in industry, John has served on the boards of CiKR (Council of Independent Record Keepers) and SPARK (Society of Pension Administrators and Record Keepers) and has used these platforms to champion industry initiatives.

Paul Schneider

  • Chief Operating Officer, EdgeCo Holdings

Mr. Schneider built solutions for the financial industry for over 20 years. He started as a software tester with the financial technology firm, SunGard Data Systems in 1989. Paul’s distinct ability to identify opportunities, deliver timely solutions, and create value for his clients propelled him through multiple positions within SunGard. By the time he left 15 years later, he had risen to one of the top executive positions in this S&P 500 company as Group CEO of SunGard Financial Networks. In 2004, Paul helped form Mid Atlantic Financial Platforms, Inc., which today is known as Mid Atlantic Capital Group, Inc. This company brought a new level of sophistication in trading and custody services for third party administrators’ and registered investment advisors’ clientele. Its offering principally includes innovative trading, directed trustee, custody, sub-custody, paying agent, and reporting services for the retirement and wealth management space. Under Mr. Schneider’s hands-on leadership, Mid Atlantic has successfully developed and deployed pioneering financial products such as the TNS technology & custody platform, ModelxChange®, ETFxChange®, DepositxChange®TM, and others. Paul now serves as CEO of Mid Atlantic’s parent company, and on the executive committee of its board as well as the boards of its various operating subsidiaries.

Tim Friday

  • President, EdgeCo Holdings

Tim has been in the financial services industry since he graduated from John Carroll University, Cleveland, OH in 1984. His career began with Federated Investors, Inc. where he worked with banks, savings and loans, and trust departments representing asset management and trust investment services. From there, he spent time with Mellon Bank in the global cash management division where he consulted for Fortune 500 companies in New York and Connecticut. Tim also held various management positions with the Federal Home Loan Bank and Bisys Fund Services where he concentrated on raising bank capital and lending services as well as product management and delivery of investment products to the institutional buy-side of the street. In 1995, he co-founded Mid Atlantic Institutional Shares, Inc. (“MAIS”) where he was president and CEO. MAIS quickly became one of the most prominent trading platforms in the nation, focusing on the TPA, corporate, and trust department marketplace. It grew to over $30 billion in client assets under administration. In November 2002, Mid Atlantic Institutional Shares, Inc. was sold to SunGard and combined its product and services with SunGard’s STN Funds where Tim then served as president. In 2004 Tim, along with several other key industry figures, developed a company that has become Mid Atlantic Trust Company (“MATC”). This company was designed to complement the services MAIS had offered to its TPA and trust clientele. It currently offers directed trustee, custody, sub-custody, paying agent, and reporting services for the retirement and trust space. Tim now serves on the executive committee of the Mid Atlantic companies and as president of Mid Atlantic Trust Company and is concentrating his efforts on the institutional and retirement plan administration marketplaces and advisor recruiting.

Joe Banco, NewEdge Wealth

Joseph F. Banco

  • Chief Financial Officer

Mr. Banco is the Chief Financial Officer and Secretary/Treasurer of EdgeCo Holdings. He also serves on the board of directors of Mid Atlantic Capital Group, Inc., as well as its three primary operating subsidiaries, Mid Atlantic Financial Management, Inc.- a registered investment advisor, Mid Atlantic Capital Corporation – a FINRA registered broker-dealer and Mid Atlantic Trust Company – a South Dakota non-depository trust company Mr. Banco joined Mid Atlantic in 1996; he is responsible for the supervision of the finance and accounting functions, as well as all financial regulatory reporting. He serves as the Financial Operations Principal of the broker-dealer. Prior to joining Mid Atlantic, Mr. Banco was a manager in the audit division of Arthur Andersen LLP. Mr. Banco received a Bachelor of Business Administration degree in Accounting from Wheeling Jesuit College in 1988 and is also a member of the American Institute of Certified Public Accountants.

Kevin Thompson, EdgeCo Holdings

Kevin Thompson

  • Chief Administrative Officer

Kevin serves as the Chief Administrative Officer of EdgeCo, working with Senior Management on the acquisition, integration and leadership of financial services organizations. He started his career in the private practice of law as a commercial litigator with the Stafford, Rosenbaum Law Firm before joining the legal department of a Fortune 1000 organization - CUNA Mutual Group. At CUNA, Kevin lead the Investment and Litigation functions in the role of Deputy General Counsel, lead the Employee Benefits business unit and then ascending to the role of President of CUNA Brokerage Services, Inc. where he lead the Sales, Operations and Compliance functions.

Erin Fischer Timmerman

  • Vice President and General Counsel

As EdgeCo Holdings' General Counsel, Erin advises the company on a broad range of legal issues. Prior to joining Mid Atlantic, Erin was a commercial litigator with an international law firm, out of its Pittsburgh office. She was named a Rising Star as part of the Pennsylvania Super Lawyers awards and to Pittsburgh Magazine’s 40 under 40. Also dedicated to her community, Erin is on the Board of Our Clubhouse, a support organization for families touched by cancer, and a mentor through Notre Dame Law School’s career office. Erin graduated from the University of Notre Dame with a B.A. in Political Science and French, magna cum laude, and then again from Notre Dame with a J.D. While in college, she received a diploma for high French proficiency from L’Université Catholique de l’Ouest in France and, during law school, she studied in London for a summer. She is also a graduate of the Trial Advocacy College at the University of Virginia School of Law.

Bob Drelick

  • Chief Information Officer

Bob Drelick has over 25 years experience within Information Technology serving Financial Services, Outsourcing, and Healthcare companies. A majority of this experience has been within rapid-growth organizations where new product/system development and integrations, infrastructure reengineering, acquisition integration, datacenter relocations, client implementation and conversions were simultaneously completed under his direction. Mr. Drelick was a key leader in several organizations that have built new infrastructures by consolidating acquisitions, joint venture partner’s, and business units redundant products, applications, systems, and networks designed to reduce cost, evolve infrastructure, improve service levels, expand existing products and services and introduce new innovative offerings and technology.