The company is paying $75 million in penalties and restitution in connection with SEC allegations that its investment advisory arm overcharged customers it inherited in its Wachovia acquisition in 2008. The settlement is said to show the importance of conducting extensive compliance checks in a rapidly consolidating industry.

Under settlements with the SEC, Wells Fargo and BNP Paribas will pay millions of dollars in penalties for employees using unofficial communications like WhatsApp. In all 11 firms agreed to pay penalties, while the CFTC took separate actions.

Despite the recovery of stock values over the past few months, the bank's wealth unit still fell short of last year's earnings.

Earnings are under scrutiny as the financial industry thins out its ranks to cope with a slowdown in deals and pays more on deposits.

The agency views the capital providers as a governance risk, and it says there are industrywide social concerns about enforcement cases and cybersecurity.

RIA DayMark Wealth Partners, less than a year after leaving Wells, has recruited another big team of ex-Wells advisors.

Advisors managing over around $2.5 billion of assets moved since the start of the week, joining employers such as UBS and Wells Fargo, as some doubt their prospects at the former First Republic under new owner JPMorgan Chase.

The firm followed rival wirehouses that no longer share their exact number of brokers, which is a critical metric for industry recruiting trends.

Experts say the Wall Street wirehouse pays a 'premium' to recruit, but moves like this one reveal it failing to stop top performers from breaking away. Here's why.

Five financial advisors with $1.45 billion in client assets and seven support staff members moved to the independent brokerage's breakaway channel.

Credit Suisse is challenging an arbitrator's decision to award $1.3 million to a former advisor, who accused the bank of holding back his deferred compensation after it shuttered the U.S. wealth management unit in 2015.

The LifeSync platform could help advisors bring in new clients who are close to existing clients, as well as win over new held-away assets.

The company says that regulators are investigating its retention of employee communications over unapproved messaging apps. It's latest bank to get caught up in an industrywide sweep that's already yielded over $2 billion in fines. 

The wirehouse announced Tuesday it was streamlining regional leadership, in a move some recruiters consider likely to blunt its plans to grow headcount.

The banking industry appears to be stuck when it comes to diversifying the leadership ranks.

The bank's delay in investigating the case forced the plaintiff to resign from the bank in July 2021, according to the complaint. Wells said that it takes allegations of misconduct "very seriously."

Wells Fargo kept Chief Executive Charlie Scharf's pay at $24.5 million for 2022, a year in which both profit and stock tumbled and the bank continued to grapple with the fallout from a raft of scandals.

The smaller shrinking of the wirehouse's headcount in 2023 underscored a successful year of growth for the megabank's wealth arm.

In a decision that left out the details of alleged discrimination and tensions within the firm, a FINRA arbitration panel granted the broker's expungement request.

Rohit Chopra, director of the Consumer Financial Protection Bureau, said the bank is "not making rapid progress" and hinted at the possibility of additional restrictions. But analysts saw positives for Wells in the $3.7 billion consent order.