Incline Wealth
$10B Wealth Consulting Group Hires Former Emigrant Executive as CFO
Jason Ehrlich will help the firm ramp up M&A initiatives, as it seeks to reach $50 billion AUA in the next five to 10 years. The Wealth Consulting Group, a Las Vegas-based hybrid registered investment advisor and wealth management platform with more than $10 billion in assets under advisement, has hired Jason Ehrlich as CFO and head of corporate development. Ehrlich, a former managing director and head of investments at Emigrant Partners, has been a strategic advisor to the firm for years and joined its advisory board as a director this summer. In the newly created role, he’ll lead WCG’s finance team, as well as corporate development initiatives, including M&A, strategic partnerships and capital planning. The firm has done one deal, acquiring Overland Park, Kan.-based V Wealthin 2023, but they hope to ramp that up, with Ehrlich’s help. CEO Jimmy Lee has set a goal for the firm to hit $50 billion in assets under advisement in the next five to 10 years. The firm currently has about $6.5 billion in assets under management and approximately 130 advisors across 50 branches. Wealth Consulting Group has grown organically since it was founded by Lee a little over a decade ago, without taking any outside capital. Lee said as the firm grows both inorganically and organically, it will consider taking on a capital partner. “That growth could be accelerated potentially through an outside capital source if that makes sense for us,” Lee said. “But we're going to try to make sure that we preserve the culture that we have and make sure that any sort of a partner or investor really aligns with what our strategy is and what we're trying to accomplish, not the other way around.” Ehrlich’s addition follows news in June that Andy Kalbaugh, a former LPL executive, joined WCG as president. Kalbaugh has helped the firm build out a partners channel, a pathway for advisors to own equity in the firm. Advisors representing more than 60% of the firm’s total revenues are now participating in that program. That channel allows advisors to transition from WCG’s other affiliation models, including OSJ, hybrid and RIA-only models, to retirement. Lee wants to help advisors transition with the least amount of friction and “monetize the economic value of their businesses that they’ve built that we support.” And while WCG doesn’t currently have an employee model, this partners channel will eventually turn into a W‑2 channel, as those advisors sell their businesses, Lee said. “We needed to create a strategy in-house to help them with that succession planning so that we can be their final home. We want to minimize disruption in their businesses and for their clients and also help those advisors ensure a succession strategy to other advisors that they're happy with and where they feel like their clients are in good hands,” Lee said.
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Jason Ehrlich will help the firm ramp up M&A initiatives, as it seeks to reach $50 billion AUA in the next five to 10 years. The Wealth Consulting Group, a Las Vegas-based hybrid registered investment advisor and wealth management platform with more than $10 billion in assets under advisement, has hired Jason Ehrlich as CFO and head of corporate development. Ehrlich, a former managing director and head of investments at Emigrant Partners, has been a strategic advisor to the firm for years and joined its advisory board as a director this summer. In the newly created role, he’ll lead WCG’s finance team, as well as corporate development initiatives, including M&A, strategic partnerships and capital planning. The firm has done one deal, acquiring Overland Park, Kan.-based V Wealthin 2023, but they hope to ramp that up, with Ehrlich’s help. CEO Jimmy Lee has set a goal for the firm to hit $50 billion in assets under advisement in the next five to 10 years. The firm currently has about $6.5 billion in assets under management and approximately 130 advisors across 50 branches. Wealth Consulting Group has grown organically since it was founded by Lee a little over a decade ago, without taking any outside capital. Lee said as the firm grows both inorganically and organically, it will consider taking on a capital partner. “That growth could be accelerated potentially through an outside capital source if that makes sense for us,” Lee said. “But we're going to try to make sure that we preserve the culture that we have and make sure that any sort of a partner or investor really aligns with what our strategy is and what we're trying to accomplish, not the other way around.” Ehrlich’s addition follows news in June that Andy Kalbaugh, a former LPL executive, joined WCG as president. Kalbaugh has helped the firm build out a partners channel, a pathway for advisors to own equity in the firm. Advisors representing more than 60% of the firm’s total revenues are now participating in that program. That channel allows advisors to transition from WCG’s other affiliation models, including OSJ, hybrid and RIA-only models, to retirement. Lee wants to help advisors transition with the least amount of friction and “monetize the economic value of their businesses that they’ve built that we support.” And while WCG doesn’t currently have an employee model, this partners channel will eventually turn into a W‑2 channel, as those advisors sell their businesses, Lee said. “We needed to create a strategy in-house to help them with that succession planning so that we can be their final home. We want to minimize disruption in their businesses and for their clients and also help those advisors ensure a succession strategy to other advisors that they're happy with and where they feel like their clients are in good hands,” Lee said.
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