The Wealth Consulting Group (WCG), a Las Vegas-based hybrid RIA and wealth management platform, appointed former LPL Financial executive Andy Kalbaugh as President to work alongside Founder and CEO Jimmy Lee to advance the firm’s growth plans, including expanding its advisor solutions.
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 most recently served as Founder and Managing Partner of Cassique Strategies. Before that, he was Managing Director and Divisional President at LPL Financial, where he led retention, engagement and growth for the firm’s independent advisor channel. Earlier in his career, Kalbaugh served as CEO and President of American General Securities and CEO and President of Mutual Service Corp.
Kalbaugh said, “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. I have immense respect for him, as well as the operation and culture he’s fostered at WCG.”
The firm plans both organic and inorganic growth, as well as helping advisors with succession, monetization and expansion.
“Consolidation and aggregation trends in the industry notwithstanding, too many RIA enterprises continue to be challenged in developing and executing a friction-free growth acquisition plan and process,” Kalbaugh continued. “WCG is uniquely positioned to serve advisors as their business evolves, allowing them to never have to change firms again.”
Founded in 2014, WCG had 123 advisors in 43 branch offices, with $8.8 billion in client assets, as of May 31. The firm is affiliated with LPL Financial.
Rich Steinmeier, CEO at LPL Financial, said, “I’ve known and respected Andy for years and am looking forward to working with him again as he makes his mark on WCG. 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.”
Michael Madden, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at michael.madden@wealthsolutionsreport.com.
