Former LPL Exec Andy Kalbaugh Named President of The Wealth Consulting Group
The Wealth Consulting Group, or WCG, a hybrid registered investment adviser and wealth management platform, has named former LPL executive Andy Kalbaugh as president.
In this new role, Kalbaugh will help lead WCG’s efforts to scale its adviser platform, enhance enterprise value for its partner firms and deliver a comprehensive wealth management experience to clients.
WCG has grown from 30 advisers and approximately $800 million in assets under administration since the inception of its RIA in October 2014, to 123 advisers across 43 branch offices nationwide, encompassing $8.8 billion in client assets as of May 31, 2025.
As president of WCG, Kalbaugh will work closely with senior leadership to expand the firm’s adviser solutions, including its unique partner channel – a model designed to help advisers transition their businesses with ease while maintaining control and continuity for their clients.
“We are excited and deeply grateful to welcome Andy to the WCG family,” said Jimmy Lee, founder and chief executive officer. “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 adviser independence, supports seamless business transitions, and puts client relationships at the center of everything.”
Kalbaugh most recently served as managing partner of Cassique Strategies, a boutique advisory firm that delivers strategic planning, coaching and relationship facilitation to wealth management firms.
Prior to that, he was a managing director and divisional president at LPL Financial from 2009 to 2021, where he had oversight for retention, engagement and growth for the firm’s independent financial advisers across the country. Previously, he served as CEO of American General Securities from 1995 to 2007 and CEO of Mutual Service Corporation from 2007 to 2009.
“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, CEO of LPL Financial, which serves as the broker-dealer for 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”
Additionally, Kalbaugh serves on the advisory board of TowerBrook Capital Partners Management, a private equity firm, where he advises the firm’s leadership team on wealth management industry opportunities.
Kalbaugh said, “This role will allow me to do what I enjoy most, which is helping advisers and building a business that is unique and valued by its advisers and their clients, and I am thrilled to work with Jimmy and his team to achieve these goals.”
In addition to pursuing traditional organic and mergers and acquisition growth opportunities, the firm under Kalbaugh will help advisers navigate the succession and monetization process to secure additional avenues for 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 advisers as their business evolves, allowing them to never have to change firms again.”
WCG’s focuses on growth through acquisitions and the recruitment of independent financial adviser businesses, and offers comprehensive services that include wealth planning, investment management, insurance and risk management, and a proprietary adviser transformation program called WCG Ascend, in collaboration with Pareto Systems.
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