$1 billion in client assets moved to &Partners after a Wells Fargo advisor team led by Andrew Buchta, Charles Collins and Nicholas Bova joined the startup from Arlington Heights, Illinois.
The move adds another Wells Fargo-linked win for &Partners, whose leadership includes former Wells Fargo Advisors CEO David Kowach and other ex-senior executives from the bank's wealth businesses.
&Partners said it has recruited 115 advisor practices since its 2023 launch and has kept hiring this year.
On May 1, the firm said two more teams overseeing more than $700 million in assets joined, including Ohio-based 1796 Private Wealth from Wells Fargo and a Florida team from Edward Jones.
Why are billion-dollar advisor teams swapping Wall Street giants for a one-year-old start-up?
As advisors exit, is Wells Fargo's own independent arm winning the hidden war for talent?
Is the great wealth advisor exodus signaling the end of the traditional brokerage model?