Wells Fargo Advisors

The regional BD’s new hires in January have averaged more than $100 million in AUM.

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

The advisors left Wells Fargo, signaling Stifel’s recruiting push will extend into 2020.

The additions came amid a revamping of the firm’s independent advisor compensation.

Competitors such as Merrill Edge have taken similar measures on commissions.

Core payout rates for advisors will not change, but the wirehouse is making changes intended to spur advisors to focus on larger clients.

It was Ray Jay’s tech and in-house marketing agency that initially appealed to the team.

Some advisors may see their pay rise in 2020.

Wells Fargo welcomed 22 active duty members to its corporate office as part of a corporate fellowship program.

The new hires came at the expense of Merrill Lynch and Wells Fargo.