Wells Fargo Advisors Financial Network

Wells Fargo Advisors Financial Network

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One N. Jefferson Ave.

St. Louis, MO 63103

(866) 485-5383

wfafinet.com

Year founded: 2001

Year end: Dec. 31

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Additional data available to subscribers:
  • No. of reps, male
  • No. of reps, female
  • No. of producing reps, male
  • No. of producing reps, female
  • No. of reps producing $500K+ /year
  • No. of CFPs
  • No. of full-time employees
  • No. of fee-based advisers served
  • Average payout per rep, per year
  • Avg. annual production of top 20% reps
  • Total payout, per year
  • Cost of E&O insurance per rep, per year
  • Affiliation fees charged per rep, per year
  • Affiliation fee coverage
  • Securities revenues
  • Securities revenues: Stocks
  • Securities revenues: Bonds
  • Securities revenues: ETFs
  • Securities revenues: Other
  • Mutual fund revenues
  • Annuities revenues
  • Annuities revenues: Fixed
  • Annuities revenues: Variable
  • Annuities revenues: Other
  • Insurance revenue
  • Insurance revenues: Life
  • Insurance revenues: Disabilities
  • Insurance revenues: LTC
  • Insurance revenues: Other
  • Alternative revenues
  • Alternative revenues: Hedge funds
  • Alternative revenues: Managed futures
  • Alternative revenues: Private placements
  • Alternative revenues: REITs
  • Alternative revenues: Other
  • Other commission revenues
  • Fee revenues: Rep-managed accounts
  • Fee revenues: Firm-managed accounts
  • Fee revenues: Outside-managed accounts
  • Fee revenues: Other
  • Fee-based assets: Clearing firm
  • Fee-based assets: Advisory firm platforms
  • Fee-based assets: Third-party money managers
  • Fee-based assets: Other
  • Is the firm, or an affiliate of the firm, registered as an investment adviser with the SEC?
  • Allows an adviser to have his/her own RIA
  • RIA platform AUM
  • Offers robo-advisory platform?
  • If not, when plans to offer a robo-platform
  • Robo-advice services offered
  • How robo-platform developed
  • Charge for robo-advisory services?

For More Information

Top ExecutiveKent Christian
Recruiting ContactAlex David
(314) 875-3950
E-mail
Compliance ContactPaul Sankovich
E-mail
Marketing ContactKevin Kozuszek
E-mail
Technology Operations ContactJoe Nestlerode
E-mail

Recruitment & Staffing

2018 2017 2016
No. of reps1,3331,404
No. of producing reps1,2561,282
No. of reps producing $100K-$499K /year539633
2017 2016 2015
Total revenues$990,794,849$910,827,000$864,052,000
Commission revenues$261,801,852$256,552,262$262,151,750
Fee revenues$472,369,003$419,789,910$397,853,250
Total revenues: Other$256,623,994$234,484,829$204,047,000
2017 2016 2015
Total account assets$104,735,000,000$95,900,000,000$87,450,000,000
Fee-based assets$49,150,000,000$42,500,000,000$41,400,000,000
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 mediaY
Social media sites allowedFacebook
LinkedIn
Dedicated mobile application for advisers?Y
Primary purpose of mobile applicationAdvisor desktop

SEC says 79 firms will return $125 million to clients as part of clemency program

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...

Five-member FiNet team managing $360 million moves to LPL

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 — partners Cam Werntz and Clay Hershey,...

Ex-Wells Fargo broker complaint wins class action status in fight over deferred compensation

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...

SEC charges Wells Fargo adviser with defrauding clients out of $1 million

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...

Ex-Wells Fargo broker suspended for coaching client to lie about excessive commissions

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...

FiNet group managing $675 million becomes an RIA

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....

Top independent broker-dealers ranked by revenue

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%...

Wells Fargo Advisors continues to bleed reps

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...

Independent broker-dealers are stepping up their game on recruiting from the wirehouses

January 27, 2018 - For years, many wirehouse brokers wouldn't consider moving to an independent broker-dealer — 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,...

    Notes
  • 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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