Ashton Thomas picks up $300M team from WealthSource

Arax Investment Partners’ firm Ashton Thomas Private Wealth has a new team in Colorado.

Joining from WealthSource, where they had around $300 million in AUM, are Angela Johnson and Doug May, who will operate as the Confluence Team, based in Grand Junction, Colorado. WealthSource was recently acquired by OneDigital Investment Advisors.

For Johnson and May, the decision to join the Arizona-headquartered firm followed a lengthy evaluation and due diligence process as they considered all possible options for the next chapter of their wealth management business.

“Ashton Thomas offers a supportive environment with experienced professionals who approach wealth advice like we do,” said Johnson, who's managing wealth advisor. “In the end, we made the decision because we believed this was the right choice for the clients we have served for so long.”

Johnson was with WealthSource for two years prior to joining Ashton Thomas but previously spent 14 years with Wells Fargo. May was with WealthSource for 10 years and before that ran his own RIA.

Joining them in their move are Nic Hansen, associate wealth advisor; Jared Hardin, associate investment portfolio analyst; Denise Cook, senior associate for private wealth client services; and Lisa Mauser, associate for private wealth client services.

“Angela and Doug represent our second team and third office location in Colorado,”Daniel Barry, chief growth officer for Ashton Thoma, said in a statement. “They are upstanding citizens and financial professionals who have diligently served clients for decades in the Western Slope region. We are delighted to welcome them to Ashton Thomas and support their growth from this point forward.”

Last month, Ashton Thomas welcomed a $500 million AUM team from Alex.Brown as it opened a new office in New York City.