Indiana-based Bison Financial principals now with Ameriprise lost their FiNet licenses because of “certain annuity processes,” regulatory filings say.
Wells reportedly pressured Bison Financial to leave, but permitted two of the Indiana-based firm’s eight offices to remain.
Wells Fargo Securities head Jonathan Weiss will step in as head of the Wealth and Investment Management division.
Wells Fargo grabs opportunity to replenish its experienced-advisor force by offering all-in bonuses approaching three times trailing 12-month revenue.
Changes are announced to firm’s 15,000 advisors in advance of the DOL fiduciary rule that will become effective on June 9.
New Jersey-based broker charged with causing HSBC to violate privacy law by taking profiles of 328 clients with him to new job.
Firm has lost a net 429 retail brokers in the last two quarters while money in Wells proprietary funds is off 12% from a year ago.
Arbitrators call Wells “disingenuous” in arguing that an amendment extending a forgivable loan agreement benefited the broker and not the firm.
Ned Kennedy to run new HNW branch for Wells Fargo in Chicago; Jeremy Geller to lead strategy at JPM for lower-tier private bankers.