Seven Bridges Wealth Advisors is expanding its geographic footprint with a new office in Saratoga Springs, New York, staffed by Jon Connell, a private wealth advisor who previously managed approximately $165 million in client assets at Edward Jones. The White Plains-based independent wealth management firm said Connell's move is designed to improve the client experience for the households he serves.
What "Independent" Means in This Context
Independence, in the wealth management industry, refers to an advisor operating outside a large wirehouse or captive brokerage. At a captive firm, advisors may face limits on which products they can recommend and how they structure client relationships. By contrast, an independent registered investment advisor — the model Seven Bridges operates under — typically has broader discretion to build customized portfolios and is legally required to act as a fiduciary, meaning client interests come first. That structure is the central selling point Connell is bringing to Saratoga Springs.
Where the Assets Are Moving
The $165 million figure attached to Connell's practice represents the pool of client assets he built at Edward Jones. When an advisor changes firms, clients are not transferred automatically — each one decides whether to follow. The announcement signals Seven Bridges expects a meaningful share of that book to migrate to the new Saratoga Springs location. For Edward Jones, which operates one of the largest advisor networks in the country, a departure of this size is a routine occurrence at scale, but for the individual clients involved, it means reassessing where their accounts sit and with whom.
Why Saratoga Springs
Seven Bridges did not specify in the announcement what drew the firm to Saratoga Springs specifically, beyond the presence of Connell and his existing client relationships in the area. The city, located in upstate New York, has a significant concentration of affluent households, and opening a local office rather than serving clients remotely from White Plains reflects a common growth strategy among independent advisory firms looking to deepen regional ties.