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Title: New Ventures in Wealth Management: &Partners and Creative Planning Fortify Their Positions in the Industry
In a remarkable development in the wealth management sector, &Partners, a St. Louis-based hybrid broker/dealer founded by David Kowach, formerly president and CEO of Wells Fargo Advisors, has made significant strides by recruiting three advisor teams in just one week. This strategic move has brought an impressive collective $1.6 billion in pre-hire assets under management (AUM).
The recently recruited teams include Wavewood Private Wealth from Basking Ridge, N.J., led by Morgan Castner and Jeffrey Libman, contributing over $574 million in pre-hire AUM. Their addition underscores a broader trend of seasoned advisors seeking new affiliations that align with their values and aspirations.
Following closely is Brookside Wealth Advisors, also departing from Wells Fargo Advisors, which brings about $550 million in pre-hire AUM. This Indianapolis-based team encompasses a diverse group of financial professionals, ready to thrive in a new environment.
Lastly, &Partners welcomes Three Points Wealth Planners from Dana Point, Calif. The team, headed by founder Scott Sargent, carries with it approximately $450 million in pre-hire AUM, reinforcing the infusion of experience and expertise into the firm.
These new partnerships have given &Partners a robust portfolio of 117 advisor practices managing approximately $57 billion. This reflects the ongoing reshaping of the wealth management sector, driven by a quest for more personalized service and ethical alignment.
As Creative Planning takes strides to bolster its operations in Southwest Florida, the acquisition of MarkhamNorton Accountants+Advisors highlights how firms are diversifying their service offerings. Set to close in July 2026, this deal opens new avenues for both firms, with Creative Planning enhancing its capability to provide clients with a comprehensive suite of services, including investment management and estate planning.
Echoing the spirit of community and stewardship espoused in Christian teachings, this strategic growth is reminiscent of the parable of the talents (Matthew 25:14-30). Just as the servants in the parable were entrusted with resources to manage wisely, these firms are utilizing their expertise and resources to cultivate wealth and provide invaluable services to their communities.
In another noteworthy development, Osaic has successfully recruited Signature Private Wealth Management from Iowa, adding $300 million in client assets to their roster. The family-oriented advisory team, led by Robert "Bob" Mundell, chose Osaic for its collaborative environment, showcasing a trend where advisors value community and support in their careers.
Similarly, Continuity Group in Oregon has expanded its operations with a new advisory team that brings in approximately $310 million in client assets, further illustrating the dynamic changes sweeping through the wealth management landscape.
In a time where personal connections and ethical considerations are paramount, these firms exemplify teachings of integrity, diligence, and service to others. As they grow and adapt, they are not only expanding their business but also enhancing the quality of life for countless individuals and families.
As we reflect on these developments, we are reminded of Proverbs 27:23, which advises, “Know well the condition of your flocks, and give attention to your herds.” This verse encourages diligence and responsibility. The ethical landscape of wealth management is evolving, where caring for clients is surpassing mere transactions.
The encouraging takeaway? As professional and ethical standards rise in the industry, let’s aspire to reflect the same values in our daily interactions and business practices. Just as the wealth managers are tasked with nurturing their clients’ financial futures, we too can seek to foster kindness, stewardship, and integrity in our lives and communities.
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Q&A about
Why is &Partners recruiting teams with such significant assets?
Building a strong financial foundation is crucial for any organization, especially in supporting ministries and serving the community. Just as the servants in the Parable of the Talents used their resources wisely to grow what was entrusted to them (Matthew 25:14-30), &Partners aims to steward these assets responsibly to further God’s work.
How can the success of &Partners in recruiting teams benefit my faith community?
Successful financial stewardship can lead to greater resources for outreach, missions, and community support, reflecting God’s love in tangible ways. As Paul reminds us in 2 Corinthians 9:7, God loves a cheerful giver, and when teams are well-resourced, they can joyfully and generously contribute to the Kingdom.
What does Scripture say about managing wealth in a Christian context?
Scripture emphasizes that wealth should be used for good and to help others, aligning with God’s purposes. In Luke 16:11, Jesus teaches that if we are trustworthy with worldly wealth, He will entrust us with true riches, illustrating the importance of integrity in managing financial resources.
How should I respond personally to the news about &Partners?
Prayerfully consider how you can support or engage with &Partners’ mission. James 2:17 reminds us that faith without action is dead; thus, being proactive in your faith through giving or service can manifest your commitment to God’s work, especially as more resources become available for His kingdom.
