T. Rowe Price adds two wealth executives, with 50-plus client-facing roles in progress

T. Rowe Price has added two executives to its wealth distribution leadership. Kevin Johnson joined as head of wealth research and Ryan Bauer as head of RIA enterprise national accounts, both reporting to Annie Brown, co-head of wealth management within U.S. intermediaries. The firm manages $1.86 trillion in client assets.

The firm said it is in the process of adding more than 50 client-facing roles in broker/dealer and RIA field sales and on its alternatives, ETF and model portfolio specialist teams. The two executive hires are complete; the larger build-out is not.

Johnson leads the firm's wealth research strategy, working with manager research teams and model teams. He joins T. Rowe Price with more than 30 years of industry experience, most recently as head of platform distribution at Allspring Global Investments.

Bauer is responsible for strategy development and execution across T. Rowe Price's largest and most complex RIA relationships, including enterprise RIAs. He joins with more than 15 years of industry experience, most recently spending 12 years in the asset management business of Deutsche Bank and DWS Group. His background covers RIA enterprise, outsourced chief investment officer, independent broker/dealer and bank channels.

On the product side, the firm said it plans to support advisors with tax-optimized drawdown strategies, portfolio construction solutions and custom model portfolios, plus alternative investments, separately managed accounts and ETFs. "We've built strong momentum across our wealth business in recent years, but we see opportunity to do more," Kevin Collins, head of T. Rowe Price U.S. Intermediaries, said in a statement. "By significantly expanding our field sales coverage, growing our leadership, and continuing to enhance the products, insights and support services we bring to market, we are better positioned to help advisors solve for the challenges they and their clients face today."