&Partners, the hybrid registered investment advisor launched in 2023 by former Wells Fargo executives, is bolstering its leadership ranks with the addition of two veteran UBS managers as it pushes further into the ultra-high-net-worth segment. The firm announced Tuesday that Mara Glassel and Julie Fox will jointly oversee its private wealth and ultra-high-net-worth businesses, joining as equity partners and members of the executive team once they complete their notice periods at UBS.
Glassel, a 28-year UBS veteran, most recently ran the bank's Greater New York Market, which encompasses 18 offices. Earlier, she led national sales for Wealth Management Americas and helped develop UBS's banking and structured notes platforms. Fox, who spent 24 years at UBS, managed wealth management and private wealth management across a 15-state Southeast Region and previously launched the UBS Global Family Office Group. Their combined tenure of more than 50 years underscores the depth of experience &Partners is bringing on board.
The hires come amid ongoing advisor attrition at UBS. According to Diamond Consultants' first-half 2026 transition report, UBS's U.S. advisor headcount fell 2.2% in the 12 months through June, ending at 5,644 advisors. The report also found that 46% of advisors leaving wirehouses opted for independent models, compared with just 24% who moved to another wirehouse. This trend aligns with &Partners' recruitment strategy, which has successfully attracted teams from major wirehouses.
John Alexander, cofounder of &Partners, framed the additions as a response to evolving advisor expectations. "Advisors are demanding more – for their clients and for the businesses they're building," he said. "Bigger isn't better. Better means sophisticated capabilities, support from people who know you, and a voice in decisions that shape your future. Advisors are choosing independence because they see the opportunity to have all three."
David Kowach, another cofounder, emphasized the firm's value proposition: "Mara and Julie know what it takes to serve sophisticated clients and support exceptional advisors. They're choosing independence to help build something great." The appointments also reinforce &Partners' commitment to gender diversity, with women leading 40% of its advisor teams. Kristi Mitchem, cofounder, noted, "That two accomplished women are making this choice together is noteworthy. It speaks to what independence can offer: a meaningful stake in the value you create, a voice in your future, and the freedom to put your leadership into practice."
The announcement follows another recent addition to &Partners' network: Noblewood Wealth Advisors, a Gurnee, Illinois-based practice that brought $472 million in pre-hire assets and became the 130th advisor team to join. Founded by Dave Hatton and John Reakes, who have worked together for two decades, Noblewood includes a five-person team previously affiliated with LPL, featuring George Yost, Heather Cortez, and Michelle Sowa.
&Partners has been a prolific recruiter since its inception. As of the end of September, the platform reported approximately $65 billion in assets across 130 practices. The firm's recruitment efforts have been particularly successful in attracting Wells Fargo teams. In July, it signed four teams, including a $1.8 billion Mississippi team, 32 North Wealth of Meridian. About a month later, it added Crown Legacy Wealth, an $838 million Bellevue practice that had also been with the wirehouse.
The founders initially set an ambitious goal of attracting 100 advisor teams, a milestone they achieved in just over two years, crossing the mark in October last year. The firm's model grants advisors ownership status rather than treating them as employees, a structure that has proven appealing. As Kowach put it, "Give exceptional advisors the freedom to lead, the resources to deliver, and ownership in what they're building, and you can raise the standard. That is the opportunity we see for our firm – and the direction we believe the industry is moving."
