Wells Fargo continues its push to bring advisors to its independent contractor channel with an 11-person advisor team based in Indianapolis that has broken away from Ameriprise.
Managing partners Gregg Keele and Ryan Perkins’ Clearwater Private Wealth Advisors have 11 advisors and were overseeing about $1 billion in client assets as an Ameriprise affiliate. Keele said in a statement that the firm decided to move to Wells Fargo’s Financial Network as its client base “moves up market.” The team operates out of three Indiana offices and has a support staff of 12.
“Affiliating with Wells Fargo Advisors Financial Network represents a strategic and natural progression for our business and ultimately allows us to serve our clients with even greater breadth and depth,” Perkins said in a statement.
Keele is leaving Ameriprise after 26 years with the broker/dealer, and Perkins is departing after about 24 years, according to BrokerCheck.
Wells Fargo has been focused on drawing advisors to its independent channels, both from competitors and its own network of advisors. Last year, it created a new role for the head of all of its independent solutions and hired Erik Karanik, a Wells Fargo veteran, to fill it.
The firm declined to provide advisor headcount for its FiNet channel. Its 2024 annual report cited over 11,000 advisors across FiNet and First Clearing, its bank-based advisor channel, and its clearing and custody network.
Ameriprise’s most recent headcount figure, given its 2024 annual report, was more than 10,000 advisors across its employee and affiliate channels.
Wells Fargo has also been competing against its advisor division’s former CEO and president, David Kowach. His &Partners RIA, which launched in the summer of 2023, has been growing at a steady clip, in part from recruiting Wells Fargo advisors.
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