Wells Fargo Advisors

The St. Louis-based firm is looking to hire advisors from wirehouses, says head of recruitment John Pierce.

One team set up an independent practice while the other signed on with the firm’s employee broker-dealer.

The recruits include a 37-year industry veteran who co-managed $240 million in client assets.

Recent lawsuits highlight the unpredictable nature of litigation in a post-Broker Protocol world.

The advisors managed more than $225 million in combined client assets.

While the wirehouse has suffered from advisor attrition, the regional BD has grown its brokerage ranks.

Several of the firm’s new hires are industry veterans with more than 30 years of industry experience.

The $230 million team — comprised of two former NHL players — moved over from the firm’s employee brokerage unit.

The advisors are the latest in a string to jump from a wirehouse to a regional BD.

Want to know what financial advisors can earn?

The list includes the biggest wirehouse breakaway team in the past five years.

Three of seven new hires came from wirehouses.

On Wall Street analyzes starting payouts at leading wealth management firms.

The recruits joined from Merrill Lynch, Wells Fargo Advisors, SunTrust and Snowden Lane Partners.

On Wall Street presents its annual analysis of base pay at wirehouse, regional and national broker-dealers.

When it comes to building these relationships, it’s better to start early.

Headcount is down more than 1,250 since a fake accounts scandal came to light in 2016.

Where can a broker earn the most?

The new hires include two former Raymond James advisors who had spent 21 years at the company.

The firm’s latest hires come at the expense of Wells Fargo, Merrill Lynch and UBS.