Advisor moves: Wells Fargo welcomes back $550M advisor duo from Ameriprise

A pair of financial advisors overseeing more than $550 million in client assets have returned to Wells Fargo Advisors, the brokerage arm of Wells Fargo & Company, in what the firm is calling a notable "boomerang" hire.

Thomas Hughes and Bill Steele, who previously spent close to a decade with the firm before departing for Ameriprise Financial, rejoined Wells Fargo Advisors and will operate out of Southlake, Texas. They are accompanied by senior registered client associate Betty Cadena.

The move is the latest in a string of high-profile financial advisor recruiting wins that have strengthened Wells Fargo's position in the competitive talent market. The firm has also seen momentum in FiNet, its independent advisory channel, underscoring a dual-track recruiting strategy that spans both its traditional brokerage and independent platforms.

Among its larger wins in the past few months, the firm pulled a $6 billion team away from Morgan Stanley in Manhattan, drew a $6.3 billion Boston-based team from UBS – along with two other UBS teams each managing more than $1 billion in assets in Ohio, Florida, and Minnesota.

In the last several months, Wells Fargo also reeled in  two billion dollar-plus ensembles from Merrill Lynch in Melville, New York.

Raymond James' employee arm lands veteran from D.A. Davidson

On the opposite coast, Raymond James' employee advisor channel has welcomed Thomas Conway to its ranks.

Conway, a financial advisor with more than 40 years of industry experience, joins RJA from D.A. Davidson & Co., where he managed $182 million in client assets.

He will operate under the name LakeVue Wealth Management of Raymond James in Kirkland, Washington, focusing on retirement planning and wealth guidance for individuals and families. He is joined by financial planning consultant Heidi Hughes.

"Raymond James stands out for its culture, thoughtful support and the resources it offers advisors to serve clients with care," Conway said.

His arrival at RJA comes alongside a larger move at the independent contractor division, with a 24-person team previously managing $2.8 billion at Commonwealth moving to Raymond James' Financial Services.

Conway's transition also comes in the wake of other defections from D.A. Davidson, counting a $600 million multigenerational team and pair of proud sixth-generation Wyomingites that joined LPL this month.

Ballast Rock Private Wealth welcomes Jake Fetchen

In the independent registered investment advisor space, Ballast Rock Private Wealth, a South Carolina-based RIA focused on holistic financial planning for accredited high-net-worth individuals, has brought on Jake Fetchen as a wealth advisor.

Fetchen arrives with experience spanning portfolio construction, financial planning analysis, and client relationship management for individuals, families, and business owners.

"Ballast Rock Private Wealth stands out for its emphasis on independent thinking and its ability to deliver truly customized advice," Fetchen said. "I am excited to join a team that is deeply focused on helping clients navigate complex financial lives with a high level of care and sophistication."

Andrew Mescon, chief executive officer of Ballast Rock Private Wealth, said the hire reflects the firm's commitment to client-first service.

"He shares our commitment to delivering thoughtful, client-first advice and brings a strong foundation of experience working with high-net-worth families," Mescon said.