Carson scoops $500M advisor from Wells Fargo
Wells Fargo has seen the back of yet another advisor as Des Moines, Iowa-based Joel Worsfold exits the wirehouse for Carson Wealth Management, which operates under Cetera Advisor Networks, an independent broker-dealer.
Worsfold was drawn to Carson’s resources, service offerings, technology and “expanded team of professionals,” which includes CFAs, financial planners, legal and tax advisors, compliance services, marketing support, and back-office operations, his new employer said in a statement.
“Carson Wealth was really the only firm that culturally aligned with our mission and purpose for putting our clients at the center of everything we do," Worsfold said in a statement. “We needed a trusted partner that could support us with better technology and a seamless experience, so we could serve our clients in the way we've always wanted."
Worsfold was managing $500 million in assets while with Wells Fargo. The wirehouse declined to comment on his move.
Worsfold joins Carson with a team that will operate as Worsfold Wealth Management. Worsfold will maintain active majority ownership of the firm and will remain as the strategic decision-maker for all business decisions and operations in the Des Moines office, according to the Carson statement.
“Joel and his team have known us for more than a decade, and we couldn't be more excited to add such a well-reputed advisor to our organization," Carson Group founder and CEO Ron Carson said in a statement. "He's making a transformative leap to go independent and truly serve his clients as a fiduciary. We look forward to 2019 together, as Carson Wealth begins a new chapter in Des Moines."
Advisors have been leaving wirehouse firms over the last few years. Many advisors have cited the restrictive nature of the large bank-backed institutions. Also contributing to the Wells Fargo exodus are the numerous scandals that occurred at the firm.