The Wealth Consulting Group, an RIA, said Wednesday that former LPL Financial executive Andy Kalbaugh has joined the firm as president.
In this new role, he will work with WCG leaders like Jimmy Lee, the founder and CEO, to grow its advisor platform and enhance the work it does for partner firms and their investor clients.
Kalbaugh recently served as a managing partner of Cassique Strategies, a boutique advisor to wealth management firms. Earlier, he was head of the National Sales and Consulting division for LPL after being a leader of Business Consulting work for LPL’s Independent Advisor Services unit. Previously, he was CEO of Mutual Service Corp. and American General Securities.
“We are excited and deeply grateful to welcome Andy to the WCG family,” Lee said. “As we enter a new phase of expansion, I knew we needed someone with Andy’s experience, leadership and shared values to help us grow intentionally. Our vision is to build something truly special — a platform that prioritizes advisor independence, supports seamless business transitions and puts client relationships at the center of everything.”
Kalbaugh is on the advisory board of TowerBrook Capital Partners Management, a private equity firm.
“This role will allow me to do what I enjoy most, which is helping advisors and building a business that is unique and valued by its advisors and their clients, and I am thrilled to work with Jimmy and his team to achieve these goals,” he said in a statement.
WCG has grown from 30 advisors with about $800 million in assets in 2014 to 123 advisors with $8.8 billion in assets as of May 31. It uses LPL as its broker-dealer.
“I’ve known and respected Andy for years and am looking forward to working with him again as he makes his mark on WCG,” said Rich Steinmeier, LPL's CEO. "We have a great relationship with Jimmy and his team, and believe Andy is the right person, at the right time, to help drive WCG’s expansion. LPL is eager to support this next stage of the firm’s growth strategy.”
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.