Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California, operational headquarters in Manhattan, and managerial offices throughout the United States and overseas.
Wells Fargo
Wells Fargo Tallies 10% Drop in Advisor Headcount Over Last Year
Headcount was down 1,387 year over year and 458 quarter over quarter, spurred by exits by international-focused advisors ahead of the bank’s closure of its foreign wealth business.
Stifel Gains Merrill and Wells Brokers in NV and CA, Loses $2-Mln Duo in TX
The St. Louis firm scored veteran hires from Merrill and Wells in the Las Vegas area and Newport Beach, Calif. Wells, meanwhile, hired from Stifel a $2 million-producing duo from an Austin, Texas suburb.
LPL Affiliate Stratos Nabs Former Wells Regional Manager
Robert Samson, whose job was eliminated as part of a regional restructuring at Wells, will be focused on recruiting for Stratos in the Chicago area, he said in an interview.
Wells Sweetens Mortgage Payouts for Brokers in Lending Push
The wirehouse boosted pay rates to 70 basis points, up from 50, amid record-setting growth in the housing market.
Court Grants Wells Fargo’s Request to Send Broker’s Age Claim to Arbitration
The broker, Thomas George Lenze, brought his suit as he is defending against Wells Fargo’s bid to recoup $78,186 he owed on a promissory note.
Wells Fargo’s Next Play: The Self-Directed Channel
Wells Fargo bank executives are looking to buy a self-directed retail brokerage or rebrand its own WellsTrade offering as part of a bid to capture next-generation investors.
$6.7-Mln Wells Team in Maryland Departs for LPL’s Breakaway Channel
The Wells team, led by 47-year industry vet Larry Boggs, is the eighth group to join LPL’s Strategic Wealth Services since the channel’s launch last April.
Billion-Dollar AUM Team Exits Wells After 18 Months For RBC
Duo had been generating $5.3 million in annual revenue at the time of their move to Wells in January 2020.
Bank of America Makes Juneteenth a Holiday, Joining JPMorgan, Wells Fargo
Bank of America Corp. joined JPMorgan Chase & Co. and Wells Fargo & Co. in closing offices for Juneteenth starting next year after President Joe Biden signed the federal holiday to commemorate the end of slavery in the U.S. into law.
Steward Adds $3.75-Mln Wells Profit Formula Team to Indie Channel
Wells duo had managed $780 million and said the move was a “natural fit” since they already ran their own balance sheet each month under the quasi-independent Profit Formula unit.
Morgan Stanley Looks to Shed Wirehouse Comparisons, Take on Schwab
The firm aims to overtake the net new asset growth rates of self-directed providers, according to Andy Saperstein, co-president of Morgan Stanley and head of Morgan Stanley Wealth Management.
