Scandal-plagued bank put aside $114 million in second quarter to refund customers in its wealth and investment management division who have been overcharged in past seven years.
Tim Sheridan replaces a short-lived Steward Partners manager who boomeranged back to Wells Fargo after a few weeks.
Sweetened offers for headhunters appear to be helping the scandal-tarred U.S. bank offset some losses of departing brokers.
Changes come as firms are consolidating real estate and rethinking regional sales job functions.
After spending their careers with Wells and predecessor A.G. Edwards, brokers were frustrated by policies penalizing their servicing of “small” accounts and by customers’ questions about the bank’s regulatory issues.
Long Island manager rejoins in new, expanded role after wooing from senior executives.
SEC examiners found that Wells Fargo Advisors’ privacy agreements failed to let customers “opt out” of Protocol protections that let brokers leave the firm with client contact information.
Wells Fargo & Co. customers hoping to use their credit cards to buy Bitcoin will have to look elsewhere.
Patricia Bates, who oversees 500 brokers in the Midwest, says of the banking scandal “This, too, shall pass.”
Arbitrators award advisor $96,851 that Wells allegedly promised when he joined the firm in 2013 if he met financial planning and other goals.