Private Advisor Group, a registered investment advisor and office of supervisory jurisdiction affiliated with LPL Financial based in Morristown, N.J., has added upstart RIA Macro Edge Advisory Group.
Former Neuberger Berman investment strategist Adon Vanwoerden launched Macro Edge Advisory Group, based in New York, in May, custodying with Fidelity Investments and Charles Schwab.
“Private Advisor Group provided the critical infrastructure to allow me to focus on what I believe really matters—deepening client relationships and proactively managing their investment portfolios,” Vanwoerden said.
He is launching his firm after working at asset manager Neuberger Berman for about 10 years, most recently overseeing portfolios for a wealth management team with over $4 billion in assets under management. Before that work, he was a quant analyst for Merrill.
“In contrast to a ‘set it and forget it’ approach, we regularly rebalance our portfolios using a proprietary process driven by time-tested leading economic indicators,” he said.
PAG, which is led by CEO and President Frank Smith, has $37.3 billion in client assets among its network of advisors, according to its most recent Form ADV.
The firm has an equity program in which advisors can opt-in to contribute a portion of their revenue—typically between 10% and 20%—in exchange for upfront cash and equity in the firm.
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