42 wirehouse advisors left in 10 teams for independent RIAs in 90 days; &Partners took the most
Between 2026-06-20 and 2026-09-18, 10 lift-out teams (42 people) moved from a wirehouse to a registered investment adviser, out of 474 lift-out teams of every kind (1,350 people). Destinations: &Partners 26 people in 7 teams from Wells Fargo Advisors; Cresset Asset Management, Llc 12 people in 1 team from Ubs Financial Services Inc.; Fisher Investments 2 people in 1 team from Merrill Lynch, Pierce, Fenner & Smith Incorporated; Concurrent Investment Advisors, Llc 2 people in 1 team from Morgan Stanley. Sources: Wells Fargo Advisors 23, Ubs Financial Services Inc. 12, Wells Fargo Advisors 3, Morgan Stanley 2.
A breakaway team is two registration dates on IAPD for two or more people: the firm they left, the firm that filed them, and how close together. The destinations are where wirehouse books are landing this quarter; the sources are where they are leaving from.