&Partners, a St. Louis-based hybrid broker/dealer founded by David Kowach, a prominent figure formerly serving as the president and CEO of Wells Fargo Advisors, has significantly bolstered its ranks in the past week. The firm announced the recruitment of three distinct advisor teams, collectively managing an impressive $1.6 billion in pre-hire assets under management. This strategic expansion underscores a dynamic period in the wealth management industry, characterized by significant advisor movement and the ongoing consolidation of independent firms.
The influx of talent primarily originates from Wells Fargo Advisors, indicating a continuing trend of advisors seeking alternative platforms that may offer greater autonomy, enhanced technological capabilities, or more favorable business models. This recruitment drive by &Partners, led by an executive with deep roots in a major wirehouse, suggests a sophisticated understanding of advisor needs and a strategic approach to capturing market share.
Wavewood Private Wealth Joins &Partners from Wells Fargo Advisors
Among the newly affiliated teams is Wavewood Private Wealth, a practice based in Basking Ridge, New Jersey. This team, formerly part of Wells Fargo Advisors, brings over $574 million in pre-hire assets under management. The team is spearheaded by Morgan Castner and Jeffrey Libman, who are joined by Tara Writt, a senior client relationship associate, rounding out their client-facing and operational support. The move by Wavewood Private Wealth signifies a conscious decision to transition to a platform that may better align with their client service philosophy or offer more entrepreneurial freedom.
Brookside Wealth Advisors Further Strengthens &Partners’ National Presence
Further bolstering the firm’s capabilities, &Partners also welcomed Brookside Wealth Advisors, another established team with a history at Wells Fargo Advisors. This Indianapolis-based group manages approximately $550 million in pre-hire AUM. The Brookside Wealth Advisors team is comprised of Adam Cloyd and Don Cobb, both serving as partners and financial advisors, alongside Jessica "Jessie" Ebling, also a financial advisor. The team’s operational backbone is supported by Jeana Golden (senior client associate), Meredith Cobb (client associate), and Jenna Mosley (client associate). The addition of Brookside Wealth Advisors not only increases &Partners’ asset base but also extends its geographical reach and diversifies its client service model.
Three Points Wealth Planners Round Out the Major Recruits from Wells Fargo Advisors
Completing the trio of significant recruitments is Three Points Wealth Planners, a Dana Point, California-based team. This group adds an estimated $450 million in pre-hire AUM to &Partners’ growing portfolio. The team is led by Founder and Managing Director Scott Sargent. He is joined by Colten Franco, a partner and financial advisor, Betty Ahn, a senior client relationship manager, and Katie Gracia, a client service associate. The strategic positioning of Three Points Wealth Planners in Southern California further enhances &Partners’ national footprint and its ability to serve a diverse client base across different economic regions.
&Partners’ Expanding Footprint and Assets Under Management
With these substantial additions, &Partners now oversees a total of 117 advisor practices, managing an impressive $57 billion in assets. This growth trajectory, particularly under the leadership of David Kowach, who has a proven track record in scaling large advisory networks, positions &Partners as a significant player in the hybrid broker/dealer space. The firm’s strategy appears focused on attracting experienced advisors and teams who are seeking a more agile and supportive platform compared to traditional wirehouse environments. The hybrid model allows for flexibility, enabling advisors to maintain their entrepreneurial spirit while benefiting from the infrastructure and compliance support of a larger entity.
Broader Industry Trends: Consolidation and Advisor Mobility
The recruitment successes of &Partners are reflective of broader trends within the wealth management industry. The past few years have witnessed a significant uptick in advisor mobility, driven by several factors:
- Desire for Independence and Flexibility: Many established advisors are seeking to escape the perceived bureaucratic constraints and sales-driven cultures of large wirehouses. They are looking for platforms that allow for greater customization of their client service models, more direct equity in their businesses, and a more entrepreneurial environment.
- Technological Advancements and Platform Support: As technology evolves, advisors are increasingly evaluating the digital tools and platforms offered by potential employers. Firms that provide robust, integrated technology solutions for client relationship management, financial planning, and portfolio management are more attractive.
- Succession Planning and Business Continuity: With an aging advisor demographic, succession planning has become a critical concern. New firms and established players are actively recruiting advisors who are looking for a clear path for their own business continuity or who are seeking to acquire established practices.
- Consolidation and M&A Activity: The wealth management landscape is undergoing significant consolidation. Larger firms are acquiring smaller ones, and independent broker-dealers and RIAs are vying for market share. This creates opportunities for advisors to move to firms that are expanding or to join consolidators that offer a stable and growth-oriented future.
Data Point: According to industry reports, the trend of advisors moving from large wirehouses to independent broker-dealers and RIAs has been a consistent feature of the market. In recent years, billions of dollars in assets have migrated annually as advisors seek out these alternative models. This movement is not just about seeking higher payouts but also about aligning with firms that offer better resources, a more compliant environment, and a greater sense of ownership.
Other Notable Industry Moves:
The recruitment activity witnessed by &Partners is part of a larger pattern of strategic growth and consolidation across the wealth management sector. Several other firms have recently announced significant moves that highlight these ongoing industry dynamics.
Creative Planning Acquires Southwest Florida Accounting Firm to Expand Integrated Services
Creative Planning, one of the nation’s largest independent registered investment advisors (RIAs) with over $710 billion in assets under management or advisement, is further strengthening its presence in Southwest Florida. The firm announced the acquisition of Markham Norton Accountants+Advisors, a local accounting and advisory firm that has served the region for over four decades. This deal, scheduled to close on July 1, 2026, represents a strategic move to enhance Creative Planning’s integrated service offering.
Markham Norton has cultivated a strong reputation over its 45-year history, providing a comprehensive suite of services including tax, accounting, litigation support, forensic accounting, valuation, and general advisory services to businesses, families, and individuals across Southwest Florida. Upon completion of the acquisition, Markham Norton’s professionals will be integrated into Creative Planning’s national platform, while maintaining their existing presence in Southwest Florida offices.
This acquisition is expected to provide Markham Norton’s existing client base with access to Creative Planning’s extensive range of services. These include investment management, retirement planning, estate and trust services, family office solutions, business consulting, mergers and acquisitions advisory, insurance solutions, lending, technology consulting, and legal services. The integration of accounting and wealth management services under one roof is a growing trend, as clients increasingly seek holistic financial solutions from a single, trusted provider.
Analysis: Creative Planning’s acquisition of Markham Norton exemplifies the trend of RIAs expanding their capabilities beyond traditional investment management. By integrating accounting and tax services, Creative Planning aims to offer a more comprehensive and seamless client experience, capturing a larger share of the client’s financial life and potentially reducing client attrition. This strategy also allows them to leverage their existing client relationships to cross-sell a wider array of services.
Osaic Attracts $300 Million Firm from Wells Fargo Advisors Financial Network
Osaic, a prominent wealth management network, has successfully recruited Signature Private Wealth Management, a Waterloo, Iowa-based firm managing over $300 million in client assets. The team’s previous affiliation was with Wells Fargo Advisors Financial Network, the independent channel of Wells Fargo Advisors.
The family-led advisory team is under the leadership of Robert "Bob" Mundell, who is joined by financial advisors Isaiah Mundell, Erica Johnson, and Tyler Johnson. Jocelyn Green serves as the Operations Manager. Signature Private Wealth Management’s decision to join Osaic followed a thorough evaluation of multiple platforms. They cited Osaic’s flexible solutions, robust succession-planning resources, and a supportive, collaborative advisor community as key factors in their choice.
Analysis: This move by Signature Private Wealth Management from a wirehouse’s independent channel to a dedicated network like Osaic suggests a preference for a more focused and specialized support structure. Osaic’s emphasis on flexibility and succession planning are critical considerations for advisors looking to build long-term, sustainable businesses. The $300 million asset figure indicates that Osaic continues to attract significant advisor teams seeking specialized support.
Continuity Group Strengthens Portland Operations with New Advisory Team and Significant Assets
Continuity Group, an Oregon-based practice that operates within the Wells Fargo Advisors Financial Network, is expanding its presence in the Portland metropolitan area. The firm has added a three-person advisory team that brings approximately $310 million in client assets.
The new team, which joined Continuity Group this week, includes Terry Keele (managing director, investments), Jackie Keele (vice president of investments), and Kari Howland (senior wealth associate and vice president). They will operate from Continuity Group’s existing Portland-area offices. This addition follows a previous significant recruitment in April, when Joseph L. Mansfield joined Continuity Group with approximately $230 million in client assets.
Analysis: The consistent growth and recruitment of substantial asset pools by Continuity Group, particularly within the Wells Fargo Advisors Financial Network, indicates a successful strategy of attracting advisors who are either transitioning within the independent channel or seeking to join a more robust regional practice. The dual recruitment of substantial asset pools ($310 million and $230 million) suggests a strong value proposition for advisors looking for a stable and growing platform.
NewEdge Wealth Expands Nashville Footprint with New Downtown Office and Veteran Advisor
NewEdge Capital Group is deepening its strategic footprint in Nashville by establishing a new downtown office and recruiting a team led by veteran wealth manager James Nichols. Nichols will assume the role of principal at the new location.
Nichols brings nearly two decades of experience advising entrepreneurs and business owners, particularly through complex liquidity events. Prior to joining NewEdge Wealth, he held the position of senior vice president, Wealth Management at UBS. His prior experience also includes senior advisory roles at Morgan Stanley/Smith Barney.
The establishment of this new downtown office is a significant step in bolstering NewEdge Wealth’s presence in Nashville. This expansion builds upon the foundation laid in 2023 when Rich Ina joined the firm. The team joining Nichols includes Erin Thomas, Vice President of Client Service, and Lena Schelzig, Analyst of Client Service.
Rob Sechan, managing director and co-founder of NewEdge Wealth, commented on the expansion: "Central Tennessee has seen an explosion of growth for nearly a decade, with large tech firms, startups and established industries creating significant wealth in the region. James’ extensive experience supporting local business owners as they navigate the changing landscape will enhance our ability to serve this important and growing market."
This strategic move by NewEdge Wealth is complemented by the recent expansion of its sibling firm, NewEdge Advisors, in the Nashville area. In January, NewEdge Advisors welcomed the 24-member ClearTrust Wealth Advisors team in Franklin, Tennessee. Additionally, in December 2025, the firm added Wealth Strategies Partners, which has advisors located in Nashville, Pittsburgh, and Sarasota.
Analysis: NewEdge Wealth’s aggressive expansion in Nashville highlights the city’s emergence as a significant financial hub. The recruitment of James Nichols, with his specialized expertise in advising entrepreneurs and business owners, addresses a growing need in a region experiencing robust economic development. The coordinated growth strategy across both NewEdge Wealth and NewEdge Advisors demonstrates a comprehensive approach to capturing market share and serving diverse client segments within key growth markets. The focus on liquidity events and entrepreneur support caters to a sophisticated clientele.
Implications for the Wealth Management Industry
The series of recruitment and acquisition announcements paints a vivid picture of a dynamic and evolving wealth management landscape. Several key implications emerge from these trends:
- Continued Advisor Mobility: The movement of substantial assets from established wirehouses to independent platforms is likely to continue. Advisors are increasingly empowered to choose platforms that best suit their business models and client service philosophies.
- Consolidation and Specialization: Larger firms are actively consolidating to achieve scale and efficiency, while also seeking to offer a broader range of integrated services. Simultaneously, specialized networks and platforms are attracting advisors who value focused support and unique capabilities.
- Geographic Expansion: Firms are strategically expanding their physical and virtual presence in key growth markets, such as Nashville and Southwest Florida, to capture new client segments and better serve existing ones.
- Focus on Client Experience and Holistic Planning: The emphasis is shifting towards providing comprehensive financial solutions that go beyond traditional investment management, incorporating tax, estate planning, lending, and other services.
- Importance of Leadership and Vision: The success of firms like &Partners, led by executives with deep industry experience, underscores the critical role of strong leadership in attracting talent and driving growth in a competitive environment.
The ongoing shifts in the wealth management sector reflect a maturing industry that is adapting to changing client needs, technological advancements, and a desire among advisors for greater autonomy and control over their businesses. The strategic maneuvers by firms like &Partners, Creative Planning, Osaic, Continuity Group, and NewEdge Wealth demonstrate a clear intent to capture market share and redefine the future of financial advice.
