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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As a whole, the megabank saw its net income rise by 9% in 2023's final quarter. But its wealth management unit was another story.
January 12 -
Recruiters see the banking giant's offering as central to its bid to retain top teams and prevent them from going independent.
December 13 -
Bans on working at brokerage firms don't lead to prohibitions on acting as an RIA as often as one might think.
December 12 -
Kenneth A. Welsh stands accused of taking money out of his clients' brokerage accounts to buy gold and other precious metals and pay down credit card debt.
November 17 -
The inquiry into Wells Fargo comes at a time when clients can often secure much better rates of return through money markets and certificates of deposit.
November 2 -
CEO Charlie Scharf said the bank's troubled wealth unit had 'treaded water' for a while, but showed signs of recovery as client assets and fee income grew.
October 13 -
Industry recruiters say offers of shares in advisory firms are hard to value.
October 4 -
FINRA booted Scott Reed from the industry after he went outside his firm to raise money for a software and web development firm.
October 3 -
Barry Sommers, the wealth management chief CEO Charlie Scharf brought in, is expanding after fixing up the unit; "Five years from now the independent channel will be our biggest channel."
September 24