In the first quarter, the firm's FiNet channel for advisors working as independent contractors recruited advisors with $9 billion in client assets.

Touchstone Wealth Partners is the fourth team with more than $1 billion in client assets to join Wells Fargo's FiNet unit this year.

The rising tide of asset values led to compensation increases above 200% in some cases, but small ticks down for the chiefs of two firms.

The bank exited the $1.95-trillion asset cap last year, but it had remained subject to the rest of the eight-year-old order.

Snow Pine Private Wealth is the latest in a string of advisory groups to jump from UBS to Wells Fargo.

The Weikes Slattery Group generated $17 million in annual revenue from locations in New York and California.

The move comes amid UBS executives' acknowledgement that they're trying to strike a balance between keeping advisors happy and improving the profit margin for their U.S. wealth business.

Jed Finn says human advisors will remain necessary even as Morgan Stanley develops AI-driven "super agents." Speaking at the same conference, the Wells Fargo CFO emphasized cross-selling.

Two teams and one advisor managing a combined $1.3 billion choose to set up shop at Wells Fargo's channel for independent advisors.

Roughly 100 employees — mostly in management — are expected to move to the wealth management unit's new headquarters in booming South Florida.

Wells Fargo stands out among wirehouses with FiNet, its dedicated channel for independent advisors. Wells Fargo Advisors head Sol Gindi says this structure gives the firm a competitive advantage rivals will find difficult to replicate.

With the rapid growth of the RIA industry, large wealth managers are increasingly finding ways to make money by supporting independent advisory practices.

Wells Fargo had argued that FINRA arbitration was the correct forum for a complaint brough by an ex-employing alleging the firm had used false interviews to boost its diversity credentials. Now the whistleblower will have his day in court.

The Munster Freeman Group will add to Wells Fargo's offerings for wealthy and ultrawealthy clients with offices in the Los Angeles area, Arizona and Colorado.

The wirehouse leaves its basic paygrid untouched for the fifth year in a row while giving advisors extra incentives to tout banking products and work with existing clients' children and grandchildren.

Wells Fargo CEO Charlie Scharf also points to investments into the firm's independent channel as helping to retain advisors and curtail departures to other firms.

Francisco Gil tried to claim his status as an independent contractor entitled him to tax deductions for travel, meals and marketing expenses. The IRS and a federal judge said he was in fact an employee.

Independent financial advisors get a lot of flexibility, but a study by Deloitte and Wells Fargo FiNet delves into the complexity of expanding successfully.

Merrill and Bank of America Private Bank seeks niche private equity opportunities for its ultrawealthy clients, while Goldman looks to retirement savers and Wells Fargo to everyday investors.

In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with consumer bankers for a 10% increase in new assets.