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Independent financial advisors get a lot of flexibility, but a study by Deloitte and Wells Fargo FiNet delves into the complexity of expanding successfully.
September 25
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Industry recruiters say offers of shares in advisory firms are hard to value.
October 4
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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.
August 25
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The banking industry appears to be stuck when it comes to diversifying the leadership ranks.
February 15
RSF Social Finance -
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."
February 8
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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.
December 20
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A blueprint for a shared ledger for digital money would include central bank digital currencies, bank deposits and e-money from companies like PayPal — but not unsupervised cryptocurrencies.
November 28
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An independent investigation found no evidence of a pact with Wells Fargo’s attorney but omitted mention of the other big questions emanating from the case.
June 29
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The firms respectively settled the regulator’s allegations about suspicious activity reports and the duty of best execution — two major areas of emphasis.
May 23
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The Weikes Slattery Group generated $17 million in annual revenue from locations in New York and California.
February 20
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The move comes amid UBS executives' acknowledgement that they're trying to strike a balance between keeping advisors happy and improving the profit margin for their U.S. wealth business.
February 17
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Jed Finn says human advisors will remain necessary even as Morgan Stanley develops AI-driven "super agents." Speaking at the same conference, the Wells Fargo CFO emphasized cross-selling.
February 11
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Two teams and one advisor managing a combined $1.3 billion choose to set up shop at Wells Fargo's channel for independent advisors.
January 27
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Roughly 100 employees — mostly in management — are expected to move to the wealth management unit's new headquarters in booming South Florida.
January 20
