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Hybrid RIA

&Partners

Recent stories
2
Outlets covering
2
Moves
2
Deals
0
Regulation
0
7-day trend

&Partners at a glance

Researched Oct 2026

&Partners is a St. Louis-based hybrid RIA, also registered as a broker-dealer, founded in 2023 by former Wells Fargo Advisors CEO David Kowach with Kristi Mitchem and John Alexander, built to be owned mostly by its advisor teams rather than by private equity. It has recruited heavily from Wells Fargo and Commonwealth and reported about $60 billion in assets across 124 advisor teams as of mid-2026, according to WealthManagement.com.

Total assets
about $60 billion1
As of Jul 2026
Advisor teams (practices) joined since founding
1241
As of Sep 2026
Headquarters
St. Louis, Mo.1
Founded
2023, by David Kowach (former president and CEO of Wells Fargo Advisors), Kristi Mitchem and John Alexander2
Ownership
Advisor- and employee-owned; the three founders hold less than 15%, with the rest held by advisors plus a minority interest of the initial outside individual investors (as reported in 2025)3
Legal structure
Dually registered broker-dealer and investment adviser, a wholly owned subsidiary of Ampersand Partners, LLC; Fidelity's National Financial Services is primary custodian4

How advisors affiliate

  • Advisor partner (equity owner)Advisor teams join as partners on &Partners' hybrid RIA and broker-dealer platform and receive equity in the firm as part of their recruiting offer.3
  • Hybrid RIA and broker-dealerThe firm is dually registered, so partner teams can conduct both brokerage and fee-based advisory business through it.4

How advisors are paid

No firm-specific figures have been published that we could verify.

Joining: deals and equity

  • &Partners funded upfront hiring bonuses of 50% by borrowing and leaned on equity grants to round out its recruiting offers, AdvisorHub reported in 2025, noting the firm had launched with $45 million from its investors.3
  • The firm said in January 2026 that it intends to cap growth at roughly 150 to 175 advisor teams, which limits how many recruits can share in its equity pool.5

Figures are as reported by the sources below and change over time. Payout and deal figures are general ranges, not offers.

  1. &Partners Recruits Two Teams With $1.5B in AUM WealthManagement.com, Sep 2026
  2. Ex-Wells chief Kowach wants 100 advisors at new firm &Partners InvestmentNews, Aug 2023
  3. Upstart &Partners Targets $120 Billion in Assets By 2028 AdvisorHub, 2025
  4. &Partners Zinn Wealth Management (&Partners practice), 2026
  5. &Partners Wraps Breakout Year, Reinforcing Advisor-Owned Model as Momentum Builds Into 2026 GlobeNewswire, Jan 2026

From the Newsroom

&Partners on the wire

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&Partners: questions

What kind of firm is &Partners?

&Partners is a St. Louis-based hybrid RIA, also registered as a broker-dealer, founded in 2023 by former Wells Fargo Advisors CEO David Kowach with Kristi Mitchem and John Alexander, built to be owned mostly by its advisor teams rather than by private equity. It has recruited heavily from Wells Fargo and Commonwealth and reported about $60 billion in assets across 124 advisor teams as of mid-2026, according to WealthManagement.com.

How big is &Partners?

Total assets: about $60 billion as of July 2026, according to WealthManagement.com. Advisor teams (practices) joined since founding: 124 as of September 2026, according to WealthManagement.com.

How can an advisor affiliate with &Partners?

&Partners offers advisor partner (equity owner) and hybrid ria and broker-dealer. Advisor teams join as partners on &Partners' hybrid RIA and broker-dealer platform and receive equity in the firm as part of their recruiting offer. The firm is dually registered, so partner teams can conduct both brokerage and fee-based advisory business through it.

How do advisors and firms join &Partners?

&Partners funded upfront hiring bonuses of 50% by borrowing and leaned on equity grants to round out its recruiting offers, AdvisorHub reported in 2025, noting the firm had launched with $45 million from its investors. The firm said in January 2026 that it intends to cap growth at roughly 150 to 175 advisor teams, which limits how many recruits can share in its equity pool. Terms vary by firm and change over time.

What is the latest news about &Partners?

The most recent &Partners headline in the industry press is “Advisor moves: &Partners lands Oklahoma team, EP Wealth adds in Denver” (InvestmentNews, October 19). Financial ADVSR’s latest reporting on the firm is “&Partners recruits two UBS regional leaders to head its wealth businesses” (October 13).

How much is &Partners in the news?

2 stories from 2 outlets have mentioned &Partners since October 15, including 2 about advisor moves.

Which firms are in the news with &Partners?

Recent coverage most often mentions &Partners alongside UBS.