&Partners, the St. Louis-based hybrid broker/dealer founded by David J. Kowach, the esteemed former president and CEO of Wells Fargo Advisors, has significantly bolstered its ranks and asset base through the strategic recruitment of two prominent advisory teams. In a swift succession of moves, the firm has welcomed SBS Retirement Consultants, a $684 million practice from Commonwealth Financial Network, and Crown Legacy Wealth, a $838 million team from Wells Fargo Advisors. These acquisitions, totaling an impressive $1.522 billion in previously managed assets, underscore &Partners’ ambitious growth trajectory and its appeal to established financial advisory groups seeking a more flexible and innovative platform.
The latest significant addition to the &Partners network is SBS Retirement Consultants, a distinguished firm that has now established &Partners’ inaugural advisor practice in the state of Alaska. Headquartered in Fairbanks, the team brings a substantial $684 million in pre-hire assets under management. Their move to &Partners marks the end of a 22-year tenure with Commonwealth Financial Network, a decision seemingly catalyzed by the recent acquisition of Commonwealth by LPL Financial. This acquisition, which officially closed last year, has initiated a transition period for Commonwealth advisors to integrate with LPL’s platform. By joining &Partners ahead of the full integration, the SBS Retirement Consultants team preempts potential disruptions and positions itself within a rapidly evolving financial services landscape.
Leading the SBS Retirement Consultants practice are partners and seasoned advisors Shawn Wiegard, Jordan Hendry, Ben Roth, and Shannon Staiger. They are further supported by a dedicated team of professionals including Ethan Daniels, partner and director of planning, and senior client service associates Laura Schaeffer, Calvon Boots, and Rebecca Bentass. Their collective expertise and established client relationships are expected to be a significant asset to &Partners as it expands its geographic footprint and service offerings.
This strategic recruitment from Commonwealth follows a period of considerable change within the independent broker-dealer space. The consolidation trend, exemplified by LPL Financial’s acquisition of Commonwealth, has created opportunities for firms like &Partners to attract advisors seeking greater autonomy, enhanced technology solutions, or a different corporate culture. The move by SBS Retirement Consultants highlights a proactive approach by some advisors to navigate these industry shifts and align with a partner that best suits their long-term vision.
Just the week prior to the SBS Retirement Consultants announcement, &Partners successfully recruited Crown Legacy Wealth, a prominent advisory group based in Bellevue, Washington. This team, boasting an impressive $838 million in pre-hire assets under management, transitioned from Wells Fargo Advisors, the very firm where &Partners’ founder, David J. Kowach, previously held a leadership position. The recruitment of Crown Legacy Wealth further solidifies &Partners’ ability to draw talent from major wirehouses, a testament to Kowach’s extensive network and the firm’s compelling value proposition.
The Crown Legacy Wealth team is spearheaded by its founders, Thomas Faley and Jason Eckerman. Their leadership is complemented by Jeni Gonzales, partner and practice director of operations; Ali Boop-Nilsen, director and wealth management associate; and Sean Price, director of wealth management. The addition of this experienced team enhances &Partners’ presence in the Pacific Northwest and strengthens its capabilities in serving affluent clients.
The combined assets from these two recent recruitments, $684 million from SBS Retirement Consultants and $838 million from Crown Legacy Wealth, bring the total number of teams to join &Partners since its founding in 2023 to an impressive 123rd and 124th. As of July 31st, these additions have propelled &Partners’ total assets under management to a substantial $60 billion. This rapid accumulation of assets signifies a remarkably aggressive growth strategy and speaks to the firm’s success in attracting established advisors and their client portfolios.
This recent surge in recruitment activity follows another significant acquisition announced in July. &Partners welcomed 32 North Wealth, a Meridian, Mississippi-based practice managing $1.8 billion in pre-hire assets, also from Wells Fargo Advisors. This prior recruitment further underscores &Partners’ strategic focus on attracting talent from its former employer, leveraging Kowach’s deep understanding of the Wells Fargo Advisors ecosystem and its advisor base. The consistent success in drawing advisors from Wells Fargo suggests that &Partners is effectively capitalizing on potential opportunities and advisor dissatisfaction within larger, more traditional firms.
&Partners was co-founded in 2023 by David J. Kowach, alongside Kristi Mitchem, recognized among Wealth Management’s "Ten to Watch in 2026," and John Alexander. The firm’s hybrid broker/dealer model is designed to offer advisors a compelling alternative to traditional structures, providing the regulatory framework of a broker-dealer coupled with the flexibility and client-centric approach often associated with registered investment advisors (RIAs). This model aims to empower advisors with greater control over their businesses while ensuring compliance and access to robust support services.
The rapid ascent of &Partners can be attributed to several factors. Firstly, David Kowach’s leadership and extensive experience at Wells Fargo Advisors lend significant credibility and gravitas to the new venture. His deep understanding of the industry, coupled with his established relationships, likely facilitates smoother transitions for recruited teams. Secondly, the timing of &Partners’ launch coincides with a period of significant consolidation and change within the wealth management industry. Advisors are increasingly seeking platforms that offer greater flexibility, advanced technology, and a more supportive entrepreneurial environment. The hybrid model offered by &Partners appears to resonate with these evolving needs.
The recruitment of teams with substantial assets under management also points to a well-defined recruiting strategy. By targeting established practices with proven track records, &Partners not only expands its asset base but also gains access to experienced advisors and their loyal client relationships. The geographic diversity of these recent recruits – Alaska, Washington, and Mississippi – indicates a broad recruitment reach and a commitment to building a national presence.
The implications of these recruitment wins for &Partners are multifaceted. Firstly, it positions the firm as a significant emerging player in the hybrid broker/dealer space, capable of competing for top talent. The growing asset base provides the financial stability and scale necessary to invest in technology, compliance, and advisor support services, further enhancing its appeal. Secondly, the success in attracting advisors from both Commonwealth Financial Network and Wells Fargo Advisors suggests that &Partners is effectively addressing key pain points experienced by advisors in their current environments, whether it be the complexities of integration after an acquisition or the limitations of large, bureaucratic structures.
For the advisors themselves, the move to &Partners represents a strategic decision to align with a firm that offers a potentially more dynamic and advisor-centric platform. For SBS Retirement Consultants, leaving a long-standing relationship with Commonwealth to join a newer entity signifies a strong belief in the vision and leadership of &Partners, particularly in light of the impending integration with LPL Financial. Similarly, Crown Legacy Wealth’s decision to move from Wells Fargo Advisors, a firm with which they had a significant history, indicates a compelling reason to embrace the opportunities presented by &Partners.
The competitive landscape for advisory talent is intense, and &Partners’ recent successes highlight its ability to carve out a niche and attract advisors seeking a modern, flexible, and growth-oriented home for their businesses. As the firm continues to expand its network and asset base, its ability to deliver on its value proposition – offering a robust hybrid platform that supports advisor independence and growth – will be crucial to its long-term success. The continued recruitment of high-caliber teams, particularly those with substantial assets, suggests that &Partners is well-positioned to achieve its ambitious growth objectives in the coming years. The firm’s strategic approach, grounded in the leadership of experienced industry veterans and a keen understanding of advisor needs, appears to be resonating effectively in the current market.
