Quick answer: Wells Fargo FiNet recruited a $2.1 billion team from UBS in April 2026. The team is Touchstone Wealth Partners, a family-led group from Toledo, Ohio, and Bonita Springs, Florida. It joined FiNet on April 10, 2026, and the move was announced on April 13.
The deal is one of the biggest advisor moves of the year. It also fits a larger pattern of advisors leaving UBS.
What Happened: Touchstone Wealth Partners Joins FiNet
Touchstone Wealth Partners, a UBS team managing $2.1 billion in client assets, joined Wells Fargo Advisors Financial Network (FiNet) on April 10, 2026. FiNet is the independent contractor arm of Wells Fargo Advisors.
The team brought about $14 million in trailing revenue with it. Trailing revenue is what an advisor team earned over the past 12 months. Winthrop lists April 16 as the date the transition was completed.
This was the fourth team with $1 billion or more to join FiNet in 2026. That made it one of the platform’s strongest recruiting stretches.
Who Are the Advisors on the $2.1 Billion Team?
The team is led by the Wise family: Kenneth Wise and his sons, Mitchel and Kenneth Wise II. It has seven wealth advisors, a chief investment officer, and four support staff.
Ken Wise has nearly 40 years in the industry. He co-founded Findley Wise Wealth Management in 2003, which later became Touchstone. He joined UBS in December 2011, so the team spent about 14 years there.
Here is the full group:
| Name | Role |
| Kenneth Wise | Founding partner, managing director, wealth advisor |
| Mitchel Wise | Partner, wealth advisor |
| Kenneth Wise II, CFP® | Partner, wealth advisor |
| Kristie Howe, CFP®, CRPC® | Wealth advisor |
| Michael McCullough | Wealth advisor |
| Spencer Stone, CIMA® | Wealth advisor |
| J. Brad Tyo | Wealth advisor |
| Brad Dobson | Chief investment officer |
| Alicia Monday, Meranda Parrish | Senior client relationship managers |
| Jaclyn Seeman | Client relationship manager |
| Heather Patterson | Office administrator |
Why Did Touchstone Leave UBS for Wells Fargo?
The research does not include a public statement from the team on its exact reasons. But the timing matches a wave of UBS departures that followed the bank’s 2025 pay changes.
UBS made several changes that many advisors disliked:
- It eliminated the Combined Team Grid.
- It cut grid payouts by 2 to 4 percentage points for advisors under $750,000 in production.
- It kept mutual fund 12b-1 fees.
For 2026, UBS softened some of this. It raised the grid by 0.5 points for producers in the $1 million to $3 million range and added a 60% payout tier at $20 million or more. Still, UBS CEO Sergio Ermotti signaled the firm would accept some advisor attrition to protect its margins. That suggests the cuts will not be fully reversed.
What Is Wells Fargo FiNet?
FiNet is Wells Fargo’s independent contractor channel, where experienced advisors run their own practices using Wells Fargo’s platform. Advisors are 1099 contractors, not W-2 employees.
FiNet is an independent broker-dealer, not a registered investment advisor (RIA). Advisors work under Wells Fargo Advisors Financial Network, LLC, a SIPC member. The firm handles compliance and supervision.
The platform turned 25 in 2026 and has more than 580 practices. It also gives advisors access to Wells Fargo bank lending.
FiNet vs. Traditional Wells Fargo Advisors vs. UBS
FiNet pays the highest share of revenue, but advisors cover their own expenses. The employee channels pay less but the firm covers costs and offers benefits.
| Feature | FiNet | Wells Fargo employee channel | UBS |
| Status | 1099 contractor | W-2 employee | W-2 employee |
| Payout | 78–92% before expenses | About 50% after a hurdle | 43–57% (2026 plan) |
| Brand | Advisor owns practice | Wells Fargo brand | UBS brand |
| Expenses | Advisor pays | Firm pays | Firm pays |
| Deferred comp | Not available | Available | Available, forfeited if you leave |
Payout is only part of the picture. An advisor at 90% who spends 20 to 35 percent of revenue on staff, rent, technology, and insurance keeps much less than the headline number.
Example: Say a team earns $5 million in revenue. A 90% payout sounds like $4.5 million. If expenses take 25%, or $1.25 million, the team keeps about $3.25 million before taxes. That is the number to compare against an employee deal.
How Many Advisors Have Left UBS in 2025–2026?
At least 54 teams managing about $52 billion left UBS in 2025, and 27 more teams with $28 billion left in the first half of 2026. UBS lost 318 advisors in 2025.
| Period | Teams | Assets | Notes |
| 2025 | 54 | About $52 billion | 132 advisors on teams |
| H1 2026 | 27 | $28 billion | 206 producing advisors left vs. 77 joins |
| Tracked total | — | About $62 billion | Disclosed assets through September 2026 |
UBS also reported net client outflows of $8.6 billion in Q3 2025 and $14.1 billion in Q4 2025. Its Q2 2026 results showed advisor headcount down 2.2% year over year. Wells Fargo landed at least eight UBS teams, about $7.6 billion, in the first half of 2026.
What Other Billion-Dollar Teams Joined FiNet in 2026?
Besides Touchstone, FiNet added Infinity Private Wealth, Snow Pine Private Wealth, KBK Wealth Management, and Twin Harbors Private Wealth, among others.
| Team | Assets | Came from | Date |
| Infinity Private Wealth | $1.8B | Merrill | Jan. 6 |
| KBK Wealth Management | $1.3B | Commonwealth | Jan. 13 |
| Snow Pine Private Wealth | $1.7B | UBS | Mar. 3 |
| Touchstone Wealth Partners | $2.1B | UBS | Apr. 10 |
| Twin Harbors Private Wealth | $1.4B | Merrill | May 11 |
| Palm Beach team (Merritt Point) | $1.0B | Truist | Jul. 1 |
Latest Updates as of October 2026
The most recent move is The Cullman/Holt Group, a UBS team with $1.3 billion. It joined FiNet on September 30 through Ascend Advisory Group in Ohio and was announced on October 1. Joining an existing FiNet practice this way is called a tuck-in.
Other recent news:
- August 21: Wells Fargo added three advisor practices, two of them from UBS.
- July 14: Wells Fargo’s Wealth & Investment Management revenue rose 13% to $3.9 billion in Q2.
- April 27: A group of former FiNet advisors left to launch Jet Wealth, a $600 million RIA. It shows advisors move in both directions.
What Technology Does FiNet Provide?
FiNet advisors use Advisor Gateway, a platform with more than 200 tools. Wells Fargo says it has invested over $1 billion in it.
The tools include eMoney for planning, FactSet for research, Salesforce for client management, Black Diamond for reporting, and iCapital for alternative investments. FiNet is also adding AI tools. Going independent on your own would mean buying a similar stack yourself.
Can Advisors Move Between FiNet and Employee Channels?
Yes. Wells Fargo says advisors can switch between its channels without penalty. The firm also plans a fee-only RIA custody platform for the end of 2026, which would add a third option.
This matters for career planning. An advisor who joins FiNet today is not locked in. They could later move to the employee channel or, once it launches, the RIA platform.
What Are the Risks of Leaving UBS for FiNet?
The main risks are higher costs, lost deferred pay, and clients who do not follow. Advisors should check each one before moving.
- Expenses. You pay for office space, staff, and insurance.
- Deferred compensation. Unvested deferred pay is usually forfeited when leaving UBS. Wells Fargo offers an affiliation award to help offset it, but it may not cover everything.
- Taxes. Contractors pay 15.3% self-employment tax and lose employer 401(k) matches. A CPA should model this.
- Client retention. Not every client follows an advisor. Plan with cautious assumptions.
- Legal terms. Non-solicit agreements may apply, so talk to an employment lawyer first.
Conclusion
Wells Fargo FiNet recruited a $2.1 billion team from UBS because the independent model offered Touchstone more control and a higher payout. The move is one piece of a broader shift. UBS has lost tens of billions in advisor assets since 2025, and Wells Fargo has been a top destination.
For advisors, the lesson is to compare net income, not just payout. For readers following the industry, Cullman/Holt joining on September 30 shows the trend has not slowed.
FAQs
What is Wells Fargo FiNet?
It is the independent contractor channel of Wells Fargo Advisors. Advisors run their own practices as 1099 contractors and use Wells Fargo’s platform and services.
Who is Touchstone Wealth Partners?
It is a multigenerational wealth team led by Kenneth Wise and his sons Mitchel and Kenneth Wise II. It manages $2.1 billion from offices in Toledo, Ohio, and Bonita Springs, Florida.
When did Touchstone join FiNet?
It joined on April 10, 2026. The move was announced on April 13.
How much did the team bring to Wells Fargo?
It brought $2.1 billion in client assets and about $14 million in trailing revenue.
Is FiNet an RIA?
No. It is an independent broker-dealer.
How does FiNet pay compared with UBS?
FiNet’s grid ranges from 78% to 92% before expenses. UBS’s 2026 plan pays 43% to 57%, but UBS covers expenses.
How many advisors left UBS in 2025–2026?
UBS lost 318 advisors in 2025, and 206 producing advisors left in the first half of 2026.
Can advisors move between Wells Fargo channels?
Yes. Wells Fargo says channel moves carry no penalty.