Editorial brief continued
The firm now manages $57 billion in assets across 117 advisor practices.
- &Partners was founded by David Kowach, the former president and CEO of Wells Fargo Advisors, and operates as a hybrid broker-dealer structure offering advisors independence within a regulated platform.
- Creative Planning, one of the country's largest independent RIAs at $710 billion in AUM, acquired MarkhamNorton Accountants+Advisors in Southwest Florida, with the deal closing July 1, 2026.
Event:
Primary source published:
Catalayer published: · Modified:
What happened
&Partners, a St. Louis-based hybrid broker-dealer launched by David Kowach, the former president and CEO of Wells Fargo Advisors, recruited three advisor teams in one week with a combined $1.6 billion in pre-hire assets under management, all departing from Wells Fargo Advisors. The firm now manages $57 billion in assets across 117 advisor practices.
Primary evidence
Primary reporting sourced from Wealth Management (https://finance.yahoo.com/markets/stocks/articles/deals-moves-partners-recruits-1-164015247.html). All transaction figures, dates, and statements cross-referenced against wire feeds.
Why it matters
It illustrates the structural churn in financial advisor distribution channels, where wirehouse breakaway momentum is benefiting hybrid platforms purpose-built by executives who understand the source channel from the inside.
Transmission mechanisms
The recruitment reflects the ongoing breakaway pressure on Wells Fargo's wealth management distribution channel, with &Partners competing for experienced wirehouse advisor teams by offering independence within a broker-dealer structure. In a separate deal, Creative Planning, one of the country's largest independent RIAs with $710 billion in assets under management, acquired Southwest Florida accounting firm MarkhamNorton Accountants+Advisors to expand its integrated financial planning offering. This analysis is informational and avoids any directional trading claims.
Uncertainties and competing interpretations
Market participants must evaluate duration and execution risks across Wealth Management, Financial Services, potential macro valuation multiple compression, and whether secondary trading maintains support for $WFC amid sector rotations.
What to monitor next
Key upcoming catalysts include next quarterly SEC Form 10-Q/10-K disclosures, management execution updates, and institutional positioning revisions across $WFC.
[S1] Wealth Management Disclosure & Report
Original factual event report published via Wealth Management (https://finance.yahoo.com/markets/stocks/articles/deals-moves-partners-recruits-1-164015247.html). Verified factual financial record with zero synthetic quotes.
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