Wells Fargo & Co. will pay a $250 million fine after the Office of the Comptroller of the Currency said it had deficiencies tied to its home-lending loss mitigation program and was failing to adhere to a 2018 consent order that dealt with past missteps.
To Score Eye-Popping Offers, Brokers Need the Right Business Mix and a Little Chutzpah, Recruiters Say
Top producers can take advantage of the ultra-competitive market by horse-trading among firms, provided they have an in-demand book of business, recruiters say.
The firm’s efforts to hold onto brokers who earned less than 40% of their revenue from international clients appears to be bearing fruit.
A boat moving through waters near the Bahamas? A Harley-Davidson at the Sturgis motorcycle rally in western South Dakota? Or just beside your pool? In the remote era, the next frontier is still a question mark.
John Tyers, who had been chief growth officer of financial planning software AdvisorEngine since 2019, will oversee Wells Fargo Advisors Financial Network, First Clearing, and its nascent RIA custody business.
The former broker was suspended one month and fined $2,500 for allegedly misrepresenting in a Covid-19 relief loan application that he operated his self-directed online trading account as a sole proprietorship.
Wells Fargo Advisors continues cost-cutting by consolidating management of its private client group, slimming to eight from 12 sales regions.
Armando Ureña and his team in Coral Gables switched to Snowden Lane Partners ahead of Wells’ shuttering of its foreign client business.
Three Wells private banking officials join the management committee of Wells Fargo Advisors as bank-brokerage integration continues.
The regulator barred a bank-based broker who declined to cooperate with its investigation of allegations she had applied for the Small Business Administration’s support without a formal business.
30-year brokerage veteran Kurt Bakken joins RBC Wealth Management-U.S. as branch director for its Rochester, Minnesota office while Ameriprise said another ex-Wells broker had doubled assets in a month.