The Wealth Consulting Group has established a new advisory board, naming three industry veterans to help guide the hybrid RIA’s strategic direction as it continues to expand.
The Las Vegas-based firm announced Wednesday that Stuart DePina, Jason Ehrlich, and Paul Kim will join WCG President Andy Kalbaugh, a former leader at LPL, as inaugural members of the board.
According to the firm, the advisory board will provide guidance as the Wealth Consulting Group pursues both organic and merger-and-acquisition growth, with a focus on supporting advisor independence, facilitating business transitions and enhancing client relationships.
Founder and chief executive Jimmy Lee said the board’s collective expertise will be instrumental as the firm seeks to scale its operations and technology.
“I’m honored to have such a distinguished group of industry veterans agree to join our advisory board,” Lee said in a statement Wednesday. “We will draw on their insights, hard-won expertise, and unique perspectives to guide our efforts in creating a platform that prioritizes advisor independence, supports seamless business transitions and puts client relationships at the center of everything.”
DePina, who previously served as president of Envestnet and chief executive of Tamarac within Envestnet – a role he left in 2022 amid a period of broader restructuring at the wealth tech giant – brings experience in leading technology-driven wealth management platforms. Citing his experience consulting with more than 1,000 RIA firms, he characterized WCG's accomplishments without external resources as something "few firms have been able to accomplish.”
Ehrlich, most recently managing director and head of investments at Emigrant Partners, has a background in wealth management and private equity, including roles at TowerBrook Capital Partners and Lightyear Capital. He noted mid-size firms' struggle to achieve scale amid industry consolidation, with WCG being "well-positioned to provide the tools, technology, and support that advisors need to deliver the best outcomes for their clients.”
Kim, CEO and co-founder of Simplify Asset Management, has spent much of his career in the exchange-traded fund industry, with experience at Principal Global Investors and PIMCO.
Kalbaugh, who joined the Wealth Consulting Group as president last month, is a former divisional president at LPL Financial and has led several large wealth management enterprises.
Founded in 2014, the Wealth Consulting Group has grown from thirty advisors with $800 million in assets under advisement to 123 advisors across forty-three branches, overseeing $8.8 billion as of May 31.
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