Growth at &Partners
&Partners, a St. Louis-based hybrid broker/dealer, secured two new advisory teams this week with a combined $1.5 billion in assets under management. These additions push the firm's total assets to $60 billion as of July 31. The firm launched in 2023 under the leadership of David Kowach, the former president and CEO of Wells Fargo Advisors.
The first of these new teams, SBS Retirement Consultants, brings the firm into the Alaska market for the first time. Based in Fairbanks, this team managed $684 million prior to the move. They transitioned from Commonwealth Financial Network after 22 years at that firm. Their departure follows Commonwealth's recent acquisition by LPL Financial, a deal that finished last year.
Key members of the SBS team include partners Shawn Wiegard, Jordan Hendry, Ben Roth, and Shannon Staiger. They are supported by Ethan Daniels, who serves as the director of planning. Senior client service associates Laura Schaeffer, Calvon Boots, and Rebecca Bentass also made the move to the &Partners platform.
Second Team Joins from Wells Fargo
A second team, Crown Legacy Wealth, joined the firm last week from Wells Fargo Advisors. This Bellevue, Washington-based group brought $838 million in pre-hire assets. The firm continues to lean on its relationships within the wirehouse sector to attract talent, as Wells Fargo has served as a frequent source for new recruits.
Founders Thomas Faley and Jason Eckerman lead the Crown Legacy group. Operations for the team are managed by partner Jeni Gonzales. The team also includes wealth management directors Ali Boop-Nilsen and Sean Price.
Industry Context and Future Trajectory
These recent signings represent the 123rd and 124th teams to join &Partners since its inception. This recruitment pace highlights the firm's focus on attracting established practices from traditional broker/dealer environments. In July, the firm also added 32 North Wealth, a Meridian, Mississippi-based practice managing $1.8 billion, which also transitioned from Wells Fargo.
Kowach co-founded the firm alongside John Alexander and Kristi Mitchem. The strategy relies on aggressive recruitment of seasoned advisors. As the brokerage landscape continues to shift following major industry acquisitions, &Partners maintains a position as a landing spot for teams seeking alternatives to current large-firm structures. The firm shows no signs of slowing its current expansion strategy.