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

This follows another August acquisition — an ex-UBS team that managed $1 billion in assets.

The slate of new hires come from several competitors including Wells Fargo and Edward Jones.

The bank is under growing pressure to lower costs.

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as much as $25 million.

The advisors staff the regional BD’s 17th office in Michigan, where it has been on a recruiting streak.

The executive shuffle at the company continues as Credit Suisse America’s Paula Dominick is hired to replace Mike Roemer as chief compliance officer. It also hired or promoted four line-of-business chief risk officers and an enterprise testing leader.

The hires might be short-lived as job-cut moratoria end in the third and fourth quarters.

The fund industry's latest arrivals underline the seismic shifts underway in the business of asset management.

The hires hail from Morgan Stanley and Wells Fargo.

“We do not yet know when we’ll return to a more traditional operating model,” a spokeswoman said.

The pandemic and work-from-home arrangements are probably spurring larger budgets.

As anxious as they may be to take advantage of the opportunity, there are pitfalls and hidden costs, advisors warn.

Democrats Elizabeth Warren of Massachusetts and Brian Schatz of Hawaii have sent a letter to CEO Charlie Scharf demanding a response to news reports that the bank has been placing borrowers into forbearance plans without their consent.

If approved, the firm would be able to issue its own ETFs, although they haven’t registered any individual funds yet.

Three of the quartet join the South Dakota office, while the fourth is in Washington state.

Mike Santomassimo is succeeding John Shrewsberry, who has held the role for the past six years.

The shift comes after the bank reported its first quarterly loss since 2008.

The bank has been in turmoil relative to peers for years. The economic fallout from the coronavirus pandemic only made matters worse.