After Peluso move, FiNet looks to land new head
Boss of Wells Fargo indie B-D shifts to affiliated clearing business
John Peluso, who oversaw the incredible growth of the independent broker-dealer Wells Fargo Advisors Financial Network, or FiNet, is now president of an affiliated clearing business, First Clearing Correspondent Services.
Wells Fargo Advisors announced Mr. Peluso’s new position today. A search is under way for a new chief executive at FiNet, according to a company statement.
Founded in 2001, FiNet typically has grown at a rate of 20% per year. The firm now has 1,100 registered representatives and advisers, and more than $55 billion in client assets. According to InvestmentNews” B-D Data Center, FiNet in 2011 generated gross revenue of $520 million.
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