Curtis Mason takes over as assistant complex manager of a branch with almost four times as many brokers as he had been managing in Oregon.
Wells Fargo’s broker-dealer agreed to pay $450,000 for failing to register almost 1,650 employees in the state.
Wells Fargo Advisors’ private client group lost a $300 million team to independence last week but kept a $285-million duo in-house at its FiNet unit and added Merrill teams in San Francisco and Missouri.
Slots two veteran field leaders into new complex roles in Texas Mountain division and hires experienced broker for branch that is part of new “community markets” business unit.
At Wells Fargo & Co.’s town hall meetings, executives have fielded countless questions from employees about efforts to resolve scandals that erupted almost three years ago.
Most popular stories from August 11 to August 17
Bank is “thrilled” with its slow, steady progress in satisfying advisors who want to set up as registered investment advisers under the Wells clearing and custody umbrella, executive says.
Three-million-dollar producers who spent their careers with the Thundering Herd wanted to stay with a wirehouse, while more junior team starts independent advisory practice.
Wells Fargo and a broker now with Raymond James are ordered to pay almost $170,000 for failing to disclose the “significant and unnecessary” tax impact of recommendation to sell out a stock position.