&Partners on Tuesday reeled in a team managing $550 million at Wells Fargo\u2019s independent Financial Network in Indianapolis, a spokesperson for the hiring firm confirmed.\u00a0<\/p>\n
The Brookside Wealth Advisors team is led by Adam W. Cloyd and Don A. Cobb, according to their firm website. They are joined by junior advisor Jessica \u201cJessie\u201d Ebling as well as support staff Jeana Golden, Meredith Cobb and Jenna Mosley.\u00a0<\/p>\n
Cloyd first registered with Edward D. Jones & Co. in 2003 and moved to Wells in 2006, according to BrokerCheck. Cobb started with Prudential Securities in 1997 and joined Wells in 2003. They launched Brookside in 2020 at FiNet.<\/p>\n
Members of the team did not respond to requests for comment. A spokesperson for Wells also did not immediately respond to a request for comment.<\/p>\n
&Partners, founded in 2023 by former Wells and Edward D. Jones & Co. executives, has grown to 116 advisor practices and approximately $57 billion in recruited assets, according to the spokesperson. Firm executives previously said that it aims to have around 150 practices managing $120 billion<\/a> in assets by 2028.<\/p>\n Last month, the firm reeled in at least<\/a> three<\/a> teams<\/a> managing $2.5 billion combined at Wells\u2019 employee channel.\u00a0<\/p>\n In February, &Partners hired Shawn M. McGinn<\/a>, who had helped lead a broad expansion of Wells\u2019 independent broker-dealer unit, to lead recruiting and the firm\u2019s push into minority investing.\u00a0\u00a0<\/p>\n &Partners hires advisors as employees but pays them similar to independent contractors by offering them a greater portion of their revenue in exchange for their covering certain office expenses. It has financed operations with backing from family and friends of the founders and obtained a line of credit from private equity firm The Carlyle Group, according to regulatory filings<\/a>.\u00a0<\/p>\n