Adding to its June influx, Wells says it hired seven advisors last week from two wirehouse competitors and two regionals cumulatively producing almost $6 million.
Colorado broker left Wells, where she spent more than half of her 38-year career, because of growing charges and its clampdown on small accounts.
Steve Heng, who had been managing around $350 million at a bank branch, joined Baird on Monday, less than two months after his forced exit from Wells.
In other shifts from big to small, father-daughter team at Merrill in New Jersey join Janney Montgomery and a $400-million Merrill duo in Ohio join an RIA founded by a former colleague.
Fund companies will pay as much as $100,000 more to get access to brokers, though some support fees for administrative services are being lowered.
A 40-year wirehouse veteran in Pittsburgh anticipates better client-outreach technology as a Dynasty-supported RIA while a veteran Merrill broker in Idaho managing $525 million says he’ll have more freedom within Raymond James’s employee channel.
Michigan advisor claims arbitrator’s failure to initially disclose relation with Wells Fargo’s lawyers deprived him of due process.
Wells Fargo & Co. Chief Executive Officer Charlie Scharf, who vowed last month to do more to improve diversity within the firm’s ranks, is tying executives’ pay to their progress in doing so.
Wirehouse will allow brokers in about 8% of its branches to return to their offices after four months of working from home, but like many companies is unlikely to open in densely populated areas until 2021, executives say.