Former Wells Fargo Head Jim Hays Joins RIA World as Executive Chairman of IFC Wealth Management

Jim Hays, former head of Wells Fargo Advisors, joins IFC Wealth Management as executive chairman. Hays, who retired from Wells Fargo in 2022, will oversee the $2.3 billion RIA firm. He is the latest senior wirehouse executive to join the RIA side of the industry, following John Thiel, former head of Merrill Lynch Wealth Management, who launched an RIA in November.

July 02, 2025 - Jim Hays, a seasoned industry veteran and former head of Wells Fargo Advisors, has joined IFC Wealth Management as executive chairman. Hays, who retired from Wells Fargo in 2022, will oversee the $2.3 billion RIA firm. This move follows the trend of senior wirehouse executives transitioning to the RIA side of the industry, with John Thiel, former head of Merrill Lynch Wealth Management, launching an RIA in November [1].

Hays, who has 37 years of experience in the securities industry, started at Merrill Lynch in 1986 and held various leadership roles at Wells Fargo before being named successor to Wells Fargo Advisors Head David Kowach in 2019. He is the latest high-profile executive to join the RIA world, following a pattern of wirehouse leaders moving to independent broker-dealers and RIAs.

IFC Wealth Management, founded by Marc Ackerman and a group of former Wells brokers, has been growing rapidly. The firm, which manages $2.3 billion in advisory assets, including $1.5 billion on a discretionary basis, aims to embed impact into the DNA of wealth management under Hays' guidance. Ackerman and other advisors dropped their brokerage licenses as part of the move to IFC, which is part of Wells' independent RIA custody business and holds assets with Fidelity Investments and Schwab Advisor Services [3].

Hays' appointment signals a growing trend of industry consolidation and a shift in the wealth management landscape. As wirehouse executives continue to leave their legacy firms to join RIAs, the dynamics of the financial advice industry are evolving. This trend is likely to influence the way financial professionals approach their careers and the services they offer to clients.

References:
[1] https://www.investmentnews.com/ria-news/another-former-wirehouse-leader-wells-fargos-jim-hays-lands-in-ria-world/261870
[3] https://www.advisorhub.com/ex-wells-fargo-advisors-head-jim-hays-joins-2-3-bln-los-angeles-ria/