Wells Fargo
Wells Fargo Dismisses $6.5 Billion ‘Top’ Bank Broker in Palo Alto
Mike Abrams, a nationally ranked Silicon Valley-based wealth manager at Wells Fargo Advisors, was dismissed last week over “conduct” standards, according to a bank filing with regulators.
Wells to Pay $2.1 Million for Brokers’ Variable Annuity Switching
Finra fines broker-dealer for failing to supervise advisors who unsuitably recommended VA sales to fund purchases of mutual and UITs that would generate additional commissions.
Another Skeptical Judge Rejects TRO Against Fleeing Brokers
For the second time in two weeks, a federal judge rejected a brokerage firm’s claim that it would suffer “irreparable harm” if former brokers are not prevented from soliciting former clients to move their accounts.
RayJay Lands $500 Mln-Asset Wells Team in Philadelphia, $1.2-Bln Group in Kansas
Trio with 106 years of experience left Wells Fargo for RayJay’s Alex. Brown UHNW division, while seven-person UBS team opens a Kansas City for Raymond James and Associates.
Wells Seeks to Handcuff $300-Mln-Asset Duo Who Joined RBC Last Week
Wells seeks restraining order against brokers it accuses of pre-soliciting clients to follow them prior to their move last week to RBC Wealth Management.
Wells to Pay Another $550,000 for Failing to Supervise Ex-Brokers Pushing Energy Stocks
Finra fines Wells Fargo Advisors for failing to review customer accounts of now-barred brokers who concentrated them in speculative energy stocks.
UBS Hires $3.1 Million Merrill Duo in Colorado, Wells Attracts Merrill L.A. Broker
Merrill loses team in Denver managing more than $400 million to a UBS branch, and a solo practitioner with three decades of experience to Wells Fargo.
Wells Fargo Resumes Job Cuts in Break With Top U.S. Competitors
Wells Fargo & Co. has started its long-awaited job cuts, breaking with some of its top U.S. competitors that have resisted workforce reductions amid the coronavirus pandemic.
Stifel Snags $327 Million-Asset Wells Texas Team, Merrill Manager in Colorado
Stifel landed a three-broker team in Texas and has hired a “community markets” manager from Merrill in Colorado to help recruit in the state and oversee an office.
Wells Hiring Sweep Nets Brokers with $3.2 Million Production
New hires hail from Merrill Lynch, RBC Wealth, and Morgan Stanley in North Carolina, New Jersey and Texas in the past week.
Wells Brokers with $1.9 Million Jump to LPL Affiliate Stratos in Arizona
Three brokers who were overseeing about $375 million in client assets at Wells’ independent channel, are teaming up at Stratos, where they say they will have more marketing freedom and higher payouts.
