&Partners Snags $864 Million Wells Fargo Team in Upstate New York

&Partners on Friday reeled in a team managing $864 million at Wells Fargo Advisors in Upstate New York, according to a spokesperson for the hiring firm. Albany, New York-based Foothills Legacy Wealth Management is led by Andrew J. Cook Jr. and Gerard J. Mehan, according to the spokesperson. They joined &Partners with support staff Christopher Cassidy, Joanne Windas, Brandie Mulligan, Courtney Fagan, Susan Mallery and Gregory St. Denis. Cook and Mehan both moved to Wells in 2019 from Merrill Lynch, according to registration records. Cook started his career with the thundering herd in 2012, and Mehan first registered with EQ Financial Consultants in 1992. He worked at six other firms before joining Merrill through its Banc of America predecessor. Members of the team did not respond to requests for comment. A spokesperson for Wells declined to comment. &Partners, founded in 2023 by former Wells and Edward D. Jones & Co. executives, has grown to 117 advisor practices and approximately $58 billion in recruited assets, according to the spokesperson. Firm executives previously said that it aims to have around 150 practices managing $120 billion in assets by 2028. Last month, the firm hired a team managing $550 million at Wells’ independent Financial Network in Indiana. In May, it reeled in at least three teams managing $2.5 billion combined at Wells’ employee channel. &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. 10 firms since 1992? It’s called….. getting PAID, OBVIOUSLY THEIR CLIENTS FOLLOW THEM, AUM SPEAKS FOR THEM!