Wells Fargo Advisors Financial Network

The firm followed rival wirehouses that no longer share their exact number of brokers, which is a critical metric for industry recruiting trends.

The smaller shrinking of the wirehouse's headcount in 2023 underscored a successful year of growth for the megabank's wealth arm.

Despite losing more than 500 brokers from its headcount in the third quarter, the wirehouse sees strong recruiting momentum in its pipeline.

An innovative hybrid firm's new brokerage displays how the industry is placing advisory business at the center of its well-financed plans for the future.

The IBD unveiled its second major recruiting addition in as many months to kick off the year.

LPL Financial and indie rivals like Raymond James, Wells Fargo FiNet and Kestra Financial completed at least 17 recruiting grabs of $800 million or more this year.

The Boston-based boutique oversees the assets of roughly 140 full- service clients and 800 individual households.

Sales are tumbling and gravitating to different products as Wells Fargo settles a FINRA case and researchers examine the defunct fiduciary rule.

“We basically had clients demanding that we find a new home,” after Wells Fargo failed to secure PPP loans for them, an advisor says.

The latest roundup of 32 IBD affiliation moves, M&A deals and expert studies reveals the mixed impact of the coronavirus.

“Overall there were not many positive data points to hang your hat on,” according to analysts. Advisor headcount, net interest income and assets were down.

The newly independent advisor oversaw $92 million in client assets.

More than 300 reps have switched BDs so far this year, with LPL and Cambridge Investment Research completing the two largest grabs.

Nearly everything fell during the difficult first quarter: net income, advisory assets, IRA assets, and advisor headcount.

Both recruits had a long history with wirehouses before trading them in for the regional broker-dealer.

The bank failed to implement its own supervisory procedures around single-inverse ETFs, costing clients millions, the SEC says.

The arbitrators based their ruling “on the defamatory nature of the information.”

The bank continues to struggle with attrition due to scandals, regulatory scrutiny and a graying workforce.

Some advisors may see their pay rise in 2020.

The bank has lost a net 1,300 advisors since a fake accounts scandal came to light three years ago.