Ashton Thomas, a private wealth firm based in Scottsdale, Ariz., said it has hired three former Wells Fargo Advisors professionals in Montana who together managed $1 billion in client investments.
The hires of the prominent veterans are a coup for Ashton Thomas, which has slightly under $2 billion in assets under management, according to a firm spokesperson. "We have two other teams which transitioned in the past few months which should put us over that line shortly," he said. Most of the assets listed on the firm's form ADV are managed for high-net-worth individuals.
The new hires include Scott Knutson, Michael J. Wong and Martin J. Lewis. These three will help open the firm’s Helena office, its third in Montana.
Knutson, who is joining as a managing wealth advisor, has worked in the industry for 27 years and is listed as one of the top 1,200 financial advisors by Barron’s. According to his profile on the site, the average net worth of his clientele is $6.5 million.
Wong and Lewis are joining as senior wealth advisors.
The three were part of Wells Fargo predecessor Norwest Corp., which Knutson joined in 1993 and Lewis joined in the late 1980s. Norwest and Wells Fargo & Co. merged in 1998.
“As a native Montanan, I am particularly excited to be opening our third office in the state,” said Aaron Brodt, the CEO and founder of Ashton Thomas, in a press release. “The Helena office marks an important turning point in our firm’s growth. Not only are we honored to have these well-regarded, experienced financial professionals join the Ashton Thomas family, but Scott, Michael, and Martin represent the largest and most tenured group of advisors to join Ashton Thomas at one time.”