Wells Fargo Advisors has strengthened its recruiting momentum with the addition of three advisory practices over the past several weeks, bringing more than $560 million in combined client assets to its employee and independent channels. The moves underscore the firm's push to reverse years of net advisor attrition and expand its footprint across both its traditional W-2 channel and its independent Financial Network (FiNet).
According to the Diamond Consultants Financial Advisor Transition Report for 2025, Wells Fargo's Private Client Group—its employee advisor channel—posted a net gain of 85 experienced advisors last year, a sharp turnaround from a net loss of 248 in 2024. The latest hires build on that progress, with the firm adding practices that cater to entrepreneurs, family offices, and high-net-worth clients.
Colorado Practice Bolsters Greenwood Village Branch
Ted Hamstra, formerly of William Blair, joined Wells Fargo Advisors' Greenwood Village, Colorado, office, bringing Senior Registered Client Associate Katie Hoge with him. His practice, now operating as Framework Wealth Advisors of Wells Fargo Advisors, manages more than $100 million in client assets and generated over $1.1 million in trailing 12-month production at his prior firm. Hamstra focuses on entrepreneurs, family offices, and family foundations.
His arrival follows two other additions to the same branch earlier this year: Elijah Brown, who joined from J.P. Morgan on July 2 with over $115 million in assets, and Nathan Matthews, who came from UBS on July 22 with more than $133 million. Nathan Vandas, Branch Complex Director for Greenwood Village, said the hires reflect a broader growth strategy for the office, which sits within the Rocky Mountain market led by Matt Gnau. "I'm excited to welcome another high-quality advisor to the Greenwood Village branch," Vandas said, adding that the firm's platform supports advisors as they expand their practices and serve increasingly complex client needs.
FiNet Adds Bicoastal Teams
In Wells Fargo's independent channel, Gabriel Armancas, formerly of Ameriprise, affiliated with FiNet as Turquoise Private Wealth, a practice he established in Woodland Hills, California. He oversees approximately $140 million in client assets. On the East Coast, Frederick Spagnola and Jon Vallaro left UBS to join Sullivan & Associates Wealth Management, an existing FiNet practice operating as Murray Street Wealth Advisors in New York City. The pair collectively manage more than $320 million in client assets.
These additions follow a notable FiNet win in early July, when a seven-person advisory group overseeing more than $1 billion from Truist joined Merritt Point, an existing FiNet practice in South Florida. The firm's independent channel has been actively recruiting, though its net gains have been modest.
Industry-Wide Recruiting Surge
Wells Fargo's activity mirrors a broader trend across the wealth management industry. Diamond Consultants tracked 11,172 experienced advisors—those with more than three years of industry tenure—who switched firms in 2025, a 16.2% increase from the prior year. Wirehouses collectively lost a net 302 advisors last year, but Wells Fargo and Morgan Stanley were the only two of the four major wirehouses to post net gains, while UBS and Merrill continued to suffer net losses.
FiNet added 90 advisors in 2025 against 89 departures, essentially breaking even, a contrast to Wells Fargo's traditional employee channel, which added 365 advisors versus 280 losses for a net gain of 85. The firm has also invested in leadership to support its independent channel, hiring Andrew Harpp, former LPL executive, as head of Advisor Engagement & Growth last month. Harpp, who spent several years in business development roles at LPL, had been serving as senior vice president and national sales manager before his move. FiNet President John Tyers told InvestmentNews at the time: "Andrew brings extensive experience helping advisors grow their businesses and successfully leading recruiting efforts. Elevating the advisor experience across FiNet is at the center of everything we do, and we look forward to the leadership and perspective he'll bring as we continue investing in the long-term success of our independent advisors and their teams."
The recruiting gains come as competition for experienced advisors intensifies, with firms like LPL Financial reporting record recruiting and other wirehouses making aggressive moves. Wells Fargo's ability to attract teams across both channels suggests its efforts to rebuild its advisor force are gaining traction, though the firm still faces challenges in retaining talent in a competitive market.
