The “top” Indiana producer who admitted to $2 million of client overcharges get another temporary reprieve.
Reorganizes Wells Fargo Advisors’ management structure in “simplification” move aimed at decreasing bureaucracy and reducing costs.
Wells Fargo Advisors is offering as much as 275% of 12-month revenue to producers around $500,000 and 325% to those at $500,000 and above.
San Francisco-based bank’s aggressive recruiting of wirehouse advisors helped fuel jump in wealth management assets last year.
More than 100 brokers, net, left during the last three months of 2018, representing the lowest advisor attrition rate of the year for the scandal-plagued bank.
Pennsylvania advisor who had been with Wells Advisors’ private client group for more than 15 years joins the bank-owned broker-dealer’s new custody channel.
Three former brokers can bring a class-action claim for overtime pay they allegedly earned as trainees in a non-Finra forum.
Royal Bank of Canada nabbed two Minnesota teams from UBS with $854 million, and a third $429-million team from Wells, but one advisor was lured back.
Apart from a cut to experienced advisors at the bottom of the food chain, firm keeps changes to a minimum for the more than 9,000 brokers in Private Client Group.
New York City advisor who was shifted from a Wells bank branch to a brokerage office accused the bank of confiscating his and a partner’s deferred comp, growth award and lost opportunity costs.
Monthly production hurdle that Private Client Group brokers must hit before qualifying for 50% payout won’t jump, as bank-owned broker seeks to reassure its troops.