Advisor moves: Veteran teams with $580M in assets leave Wells Fargo
Two advisory teams managing about $580 million in client assets left Wells Fargo to join Ameriprise Financial and Janney Montgomery Scott. Lee Winters III and Chris McClure moved to Ameriprise, managing about $160 million. Madura Private Wealth Group moved to Janney, managing nearly $420 million and opening a Lake Forest, Illinois office.
How this was made
The 30-second read
Why it matters
For traders, the actionable signal is incremental AUM growth potential at the destination firms (AMP, JNS) and competitive pressure on Wells Fargo’s wealth-advisory channel, but the piece lacks financial statements or quantified earnings impact.
Market read
Quantified advisor-team AUM transfers to AMP and JNS provide a modest growth narrative, but without retention or financial impact metrics, the immediate trading signal is limited.
What to watch
The article does not address client retention rates, payout/transition costs, or whether these teams represent net new assets versus reallocated assets within existing relationships.
Background
The article describes two advisory teams leaving Wells Fargo to join Ameriprise Financial and Janney Montgomery Scott, continuing a broader 2026 pattern of advisor departures from Wells Fargo.
Ticker impact
Ameriprise Financial hired a Wells Fargo advisory team managing about $160M in client assets, citing its technology platform and advisory culture.
Likely limited near-term price impact; watch for follow-on disclosures on net flows or advisor recruiting momentum.
The news is specific (named advisors, AUM size, firm destination) but lacks company-level financial guidance, and advisor moves typically translate to gradual AUM changes rather than immediate earnings effects.
Market effects
Highlights ongoing advisor migration from Wells Fargo to independent or platform-backed wealth managers, reinforcing competitive recruiting dynamics in wealth management.
Greater Chicago wealth-management competition intensifies with Janney’s new Lake Forest office and added team AUM.
Primarily US wealth-management flows; no direct global macro linkage.
Counterpoint
Advisor moves may not translate into durable net flows if clients churn after transitions, so AUM-at-move can overstate longer-term retention.
Key entities
- advisory teamLee Winters III and Chris McClure
Former Wells Fargo Clearing Services advisors joining Ameriprise’s branch channel with about $160M in client assets.
- advisory teamMadura Private Wealth Group
Former Wells Fargo team moving to Janney Montgomery Scott, managing nearly $420M in client assets and opening a Lake Forest office.
- public companyAmeriprise Financial
Destination firm for the Winters and McClure team; cited for its technology platform and advisory culture.
- public companyJanney Montgomery Scott
Destination firm for the Madura team; expanding presence in the Chicago metro area.
- public companyWells Fargo
Advisor platform losing multiple teams in 2026, including the two described in this article.
