Former LPL leader Andy Kalbaugh is undergoing a homecoming of sorts as the distinguished veteran comes out of retirement to lead an LPL OSJ's next phase of growth.
The Wealth Consulting Group announced Wednesday that it has named Kalbaugh as its new president, marking the latest strategic move by the Las Vegas-based hybrid RIA to scale its platform and broaden its national footprint.
Kalbaugh, who stepped down from LPL in 2021 after a 14-year tenure, joins WCG as it looks to expand advisor solutions, enhance partner firm enterprise value, and refine its wealth management experience for clients.
The firm, which launched its RIA in 2014, has grown from 30 financial advisors with $800 million in assets under advisement to 123 advisors across 43 branches overseeing $8.8 billion as of May 31.
In his new role, Kalbaugh will work closely with founder and CEO Jimmy Lee and the rest of WCG’s senior leadership team. He will also focus on developing WCG’s partner channel, a model designed to allow advisors to transition their businesses with minimal disruption while maintaining autonomy and continuity.
“As we enter a new phase of expansion, I knew we needed someone with Andy’s experience, leadership and shared values to help us grow intentionally,” Lee said in a statement announcing the move Wednesday. “Our vision is to build something truly special — a platform that prioritizes advisor independence, supports seamless business transitions and puts client relationships at the center of everything.”
Kalbaugh’s appointment follows the October 2024 hire of Talley Léger as chief market strategist, further signaling WCG’s aim to bolster its leadership amid increased competition among independent firms.
Kalbaugh most recently led Cassique Strategies, an advisory firm focused on strategic consulting for wealth management businesses. In 2023, he also got a seat at the governance table at Merit Financial Advisors as he joined the Atlanta-based RIA's board of directors.
Earlier in his career, he served as CEO of American General Securities and Mutual Service Corp. At LPL, he held the role of managing director and divisional president, where he was responsible for advisor engagement and retention.
“This role will allow me to do what I enjoy most, which is helping advisors and building a business that is unique and valued by its advisors and their clients,” Kalbaugh said.
He added that WCG will pursue both organic and inorganic growth while helping advisors manage succession and monetization strategies – areas he arguesremain difficult for many RIA enterprises to streamline effectively.
Rich Steinmeier, CEO at LPL Financial, welcomed Kalbaugh’s new role, noting the longstanding relationship between LPL and WCG.
“We have a great relationship with Jimmy and his team, and believe Andy is the right person, at the right time, to help drive WCG’s expansion,” he said.
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