The latest advisor team additions at RBC and LPL expanded their presence in Houston this week, while Wells Fargo's 2026 recruitment efforts rolled on with a billion-dollar-plus group coming from Commonwealth.
RBC Wealth Management is building out its Texas presence with the addition of a Houston team overseeing $670 million in client assets. The Ellsworth Fair Wealth Management Group has joined the firm’s Houston Memorial branch from Robert W. Baird & Co., expanding a location that recently moved into a larger office to accommodate growth.
The group is led by advisors Steve Ellsworth and Marcus Fair, whose practice is largely centered on employer-sponsored retirement plans and advisory services. Ellsworth has more than 20 years of industry experience, while Fair joined the team seven years ago to deepen its focus on workplace retirement plans and related consulting.
In a statement, Houston Memorial branch director Terri Edwards said the advisors bring “deep expertise in large-scale retirement plans and employer plan structures,” adding that those clients can tap into RBC’s capabilities in the space.
Wells Fargo Advisors Financial Network announced it has welcomed KBK Wealth Management, a New York City team overseeing more than $1.3 billion in assets.
The group, which previously reported $9.5 million in annual revenue, affiliated with FiNet on January 13 after leaving Commonwealth Financial Network.
KBK’s practice includes six financial advisors — Richard Kass, Michael Kessler, Alan Brachfeld, Jeffrey Feinstein, Nancy Curtin and Jordan Cohen — supported by eight staff members across operations and client service. The team positions itself around a simple principle that the “client comes first,” according to its materials.
Aside from "doing what's best for our clients," Kass said the decision to affiliate with FiNet allows the team to "preserve our independence while enhancing our platform, capabilities, and long-term stability."
KBK extends a strong start to 2026 recruitment for Wells Fargo Advisors, which over the past week has added a $1.2 billion Citi team, a $1.8 billion ex-Merrill ensemble, and a five-person team from Morgan Stanley in Atlanta.
Since its acquisition by LPL last year, Commonwealth has seen a stream of exits by longtime advisors and teams to rival firms including Raymond James, Cetera, and Osaic. Despite that exodus, LPL CEO Rich Steinmeier has maintained a 90% advisor retention target for his firm following the deal.
LPL has added Houston-based Oak Bridge Financial, a group reporting approximately $230 million in advisory, brokerage and retirement plan assets from Ameriprise.
The latest practice to affiliate within LPL's broker-dealer and RIA platforms was founded in 2007 by advisors Peter Goudeau Jr. and Larry Boyd, who together bring about 45 years of industry experience and work with a nationwide client base from Houston, Washington, D.C., Atlanta and Seattle.
Oak Bridge focuses on high-net-worth professionals – including physicians, attorneys, Olympic athletes, entrepreneurs, and business owners – and leans heavily on internal portfolio management rather than outsourcing investment decisions.
The firm’s roster also includes advisors with backgrounds in real estate, computer science, banking and engineering, a mix Oak Bridge says helps them take a broader view of client problems beyond pure investment performance. The team also includes advisor Pete Goudeau III, along with colleagues Andrew Brereton, Jeffrey Keown, and Kingsley Davis.
Oak Bridge’s affiliation comes as LPL is also reshaping parts of its leadership bench. This week, it appointed Suzanne Elovic as executive vice president, head of supervision, and Mike Murphy as executive vice president, head of service. Both are based in New York and wil report to John O’Neill, executive vice president and head of service and supervision.
A 30-year legal and compliance veteran with experience from FINRA, UBS, and Carta, Elovic will focus on modernizing LPL’s supervision experience and scaling oversight. Murphy brings his own experience from LongBridge Securities, E*Trade at Morgan Stanley, and TD Ameritrade to oversee frontline service teams aimed at improving advisor, client, and employee interactions.
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