Wells Fargo Advisors Financial Network

Reps recommended complex investments without restrictions, the regulator said.

The firm's advisor ranks increased slightly during the third quarter, ending three consecutive periods of decline.

Veteran advisers with $437M in AUM 'set out to find something different.'

The firm’s newest team left Wells Fargo’s independent channel.

The recruits left Morgan Stanley and UBS to go with the independent channel at Wells Fargo.

Plus: A Morgan Stanley grab totals $410 milllion in combined AUM and more than 30 other job changes.

The regulator said "significant deficiencies" affected hundreds of millions of records.

The new recruits joined from Merrill Lynch and Morgan Stanley.

The advisers joined the firm's independent and employee channels from rivals such as Morgan Stanley, Wells Fargo and Cetera.

The planners left J.P. Morgan, UBS and Merrill Lynch to go into business for themselves.