Wells Fargo
Wells Fargo
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company is split into four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management.
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Six of the top 10 advisor recruits — managing roughly $13.2 billion in client assets — have walked out of the wirehouse so far this year.
July 19 -
The recruits oversaw more than $200 million in client assets.
July 17 -
Investors have been more skeptical of how much boost the tax cuts would provide to the economy this year, and the big banks’ second-quarter profits seem to suggest why.
July 17 -
Total broker head count dropped by 173 from the prior quarter, according to the wirehouse.
July 13 -
Collusion and corruption allegedly prevented Wells Fargo whistleblowers, and a former JPMorgan advisor, from obtaining justice.
July 12 -
The firm's two new hires are the latest in aggressive recruiting efforts and joined from rivals RBC and Wells Fargo.
July 11 -
The regulator barred an ex-Wells Fargo advisor for fooling the bank into reimbursing him for $3,400 after he falsely claimed that he was the victim of fraud.
July 10 -
The wirehouse has lost at least 123 advisors managing $15.7 billion in client assets year-to-date, according to other firms’ hiring announcements.
July 9 -
Industry changes and ongoing bank scandals have tilted the playing field in favor of smaller brokerages.
July 9 -
The No. 1 independent broker-dealer has grown beyond the wirehouses, but it added about 100 fewer advisors than expected from its major acquisition.
June 29
