Wells Fargo Advisors Financial Network
One N. Jefferson Ave.
St. Louis, MO 63103
Year founded: 2001
Year end: Dec. 31
Recruitment & Staffing
|No. of reps||—||1,333||1,404|
|No. of producing reps||—||1,256||1,282|
|No. of reps producing $100K-$499K /year||—||539||633|
|Total revenues: Other||$256,623,994||$234,484,829||$204,047,000|
|Total account assets||$104,735,000,000||$95,900,000,000||$87,450,000,000|
|Total account assets: Other||$55,585,000,000||$53,400,000,000||$46,050,000,000|
|Average assets per rep||$78,570,893||$68,304,843||$66,451,368|
|Social Media & Mobile|
|Allows advisers to use social media||Y|
|Social media sites allowed||Facebook|
|Dedicated mobile application for advisers?||Y|
|Primary purpose of mobile application||Advisor desktop|
March 11, 2019 - The Securities and Exchange Commission announced Monday that 79 investment firms agreed to return $125 million to clients to whom they had sold inappropriate high-fee mutual funds. The restitution, most of which went to retail investors, is the result...
January 10, 2019 - Harbor Financial Group, which manages $360 million in assets in two South Carolina locations, has switched affiliation from Wells Fargo Advisors Financial Network to LPL Financial. Three of the firm's five advisers â€” partners Cam Werntz and Clay Hershey,...
October 16, 2018 - A federal judge has granted class action status to a lawsuit brought by a financial adviser who claimed Wells Fargo Advisors cheated him out of $200,000 in deferred compensation. The adviser, Robert Berry, worked at Wells Fargo Advisors and predecessor...
September 25, 2018 - The Securities and Exchange Commission charged a former Wells Fargo adviser with allegedly defrauding his retail clients out of more than $1 million. John Gregory Schmidt, who is based in Dayton, Ohio, sold securities belonging to at least seven of his...
September 6, 2018 - A former Wells Fargo Advisors Financial Network broker who coached an elderly client to respond falsely to the firm when it asked her about his excessive commission charges agreed on Wednesday to an eight-month suspension and a $10,000 fine. A 30-year...
August 1, 2018 - A nine-person team in Punta Gorda, Fla., managing $675 million through Wells Fargo's FiNet independent brokerage business has left to form Landsberg Bennett Private Wealth Management, a registered investment advisory firm. The team is led by Michael W....
April 21, 2018 - Firm 2017 % revenue ($M) % change vs. 2016 2017 commission revenue ($M) % change vs. 2016 2017 fee revenue ($M) % change vs. 2016 2017 other revenue ($M) % change vs. 2016 1 LPL Financial $4,281.50 5.70% $1,670.80 -3.80% $1,409.20 9.30% $1,201.40 17.50%...
April 13, 2018 - Wells Fargo Advisors continues to see a decline in the number of brokers and advisers working at the firm's various channels, reporting Friday a net loss of 145 reps over the first three months of this year. A spokeswoman for Wells Fargo Advisors, Emily...
January 27, 2018 - For years, many wirehouse brokers wouldn't consider moving to an independent broker-dealer â€” and for good reason. The technology at IBDs wasn't on par with the wires. They had no public branding to bring clients in the door. And perhaps above all else,...
- N/A = Not available
- N/D = Not disclosed
- — = Information not available or not disclosed
All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.
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