Steve Pririgyi, who has more than 30 years of experience in the financial industry, has been named president of NewEdge Advisors, a New Orleans-based RIA that supports more 265 advisors in 32 states managing $16.5 billion in assets, NewEdge Advisors announced today.
Previously, Pririgyi founded The Higher Line, a business coaching firm, after retiring from LPL Financial in 2018. While at LPL Financial he was executive vice president of business development. Pririgyi also is a co-founder of Ignition Point Partners, a consulting firm that provides benchmarking research for broker-dealers.
At NewEdge, Pririgyi succeeds Jeff Cutler, who moves from president to the newly created position of chief experience officer, a role that will focus on advisor technology and marketing.
“At NewEdge, we think of 2023 as our coming out party in the industry,” Alex Goss, NewEdge Advisors co-founder and co-CEO, said in an interview. “We have an aggressive growth and acquisition plan” and Pririgyi will be a leader of that effort. "Steve provides a breadth of knowledge and firsthand experience that is second to none. During his distinguished career, he has not only worked with many of the industry’s finest leaders, but he has also demonstrated that he has a unique ability to seize the opportunities and tackle the challenges inherent to this space.”
“As we grow and scale, we must continue to efficiently deliver core RIA services and support to our network of advisors, while prioritizing and cultivating their overall experience as part of the NewEdge Advisors family," Goss said in a statement.
NewEdge is backed by Parthenon Capital and was named one of the top RIA firms in the country by Forbes magazine this year. Most clients of its firms are in the upper half of the mass affluent to lower half of the high-net-worth segments of the market, NewEdge said.
NewEdge Advisors provides support services, including direct 1099 and W-2 programs, and multiple affiliation models. Previously known as Goss Advisors, the firm became a part of EdgeCo Holdings in 2020 to lead the 1099 wealth division. In 2021, NewEdge Advisors was created as a part of the launch of NewEdge Capital Group.
NewEdge Advisors has 10 firms it is now actively working with for acquisition in the near future and more in the pipeline, Goss said. “We have added $5 billion in assets this year and are on track to exceed that next year," he said. "This is a story of coming full circle. Steve was one of the people who convinced me to start my firm in 2018 ... and we are now moving to the next level.”