RIA Moves: HB Wealth plants stake in Charlotte with $15B JPMorgan team

The trend of wirehouse advisors breaking away to the RIA space is continuing in November, with HB Wealth adding a powerhouse JPMorgan team as &Partners lured another experienced group from Wells Fargo.

HB Wealth enters Charlotte with $15B team from JPMorgan

Atlanta-based HB Wealth has established a presence in Charlotte, North Carolina, with the addition of a five-person advisory team led by market leader Matthew Moore.

The group, which previously oversaw nearly $15 billion in assets at JPMorgan, includes senior wealth advisors Andrea Smith and Rebecca Warner, advisory associate Jared Green, and senior administrative associate Ana Pena.

The Charlotte team is focused on serving ultra-high-net-worth families, private business owners, and single-family offices, offering services that include estate and succession planning, business transition support, and customized family office solutions.

Moore said the move “aligns us firmly with our clients in their pursuit of the vision and goals they have set forth for their wealth,” adding that HB Wealth’s platform enables the team to oversee every aspect of clients’ financial lives.

Thomas Carroll, chief executive at HB Wealth, said in a statement that the new team’s experience with ultra-high-net-worth clients “underscores their ability to deliver the comprehensive advice and high-touch service our clients expect.” The firm, founded in 1989, now manages more than $29 billion in assets across 12 offices in six states.

The firm's move in North Carolina builds on recent developments over the summer, including its rebrand from Homrich Berg in August and the July reveal of its firmwide equity participation program.

&Partners adds Arrowhead Private Wealth in Texas

In Texas, &Partners announced that Arrowhead Private Wealth, based in Austin, has joined its network of advisor practices.

Arrowhead is led by managing directors Craig Wingrove, Ann Connolly, and Trey Wolslager, and serves business owners, executives, retirees, and multigenerational families throughout the Texas Hill Country.

The team, which previously managed $728 million at Wells Fargo, is known for its collaborative approach and focus on helping clients navigate business transitions, equity compensation, and retirement planning, always guided by what they describe as “conviction behind every choice.”

The addition comes as &Partners recently reached a recruitment milestone of 100 advisor practices and approximately $50 billion in prehire assets, with $350 million in revenue as of mid-October. Last Friday, it revealed it had added another ex-Wells Fargo team that oversaw $827 million in Florida.

MAI Capital Management completes Evoke Advisors acquisition

Meanwhile, Cleveland-based MAI Capital Management has finalized its acquisition of Los Angeles-headquartered Evoke Advisors, creating a national RIA with 600 employees and $65 billion in assets under management across 34 offices.

The merger of equals, which was first announced in July, marks MAI’s seventeenth acquisition since January 2024 and brings together talent from both firms, including new managing partners David Hou, Jane Eagle, and Jay Sanders from Evoke.

Rick Buoncore, chairman and chief executive at MAI, said the expanded Office of Managing Partners “represents a pivotal turning point for MAI as we broaden our national footprint and strengthen our position as a destination for both clients and fiduciary advisors.”

Hou, now managing partner for Evoke ultra-high-net-worth, said joining MAI allows the team to offer “greater access to a national platform, deep planning and investment resources, and specialized expertise.”