Office address: 420 Montgomery Street, San Francisco, CA 94104
Website: wellsfargo.com
Year established: 1852
Company type: banking
Employees: 217,000 (2024)
Expertise: retail banking, commercial banking, investment banking, wealth management, asset management, mortgage lending, treasury management, capital markets, insurance, global payments
Parent company: Wells Fargo & Company
Key people: Charles Scharf (CEO); Barry Sommers, Fernando Rivas, Michael Santomassimo, Derek Flowers, Scott Powell, and Kyle Hranicky (senior EVPs)
Financing status: corporation
Wells Fargo is a leading US bank headquartered in California, serving millions of clients nationwide. It delivers diverse financial and investment options, covering wealth management, asset management, and investment banking services. Managing over $2 trillion in assets, the company operates one of the largest investment advisory networks and is recognized as a Big Four US bank.
Wells Fargo began its story in 1852, when Henry Wells and William Fargo saw a need for reliable banking and express services during the California Gold Rush. Their company quickly became known for moving gold, mail, and freight across the growing American West. The famous Wells Fargo stagecoach soon became a symbol of trust and connection for people seeking opportunity.
The company played a key role in linking distant towns and cities, helping communities grow and thrive. By the late 1800s, Wells Fargo was handling express deliveries, banking, and even managing the western portion of the Pony Express. Its reach stretched from California to the Midwest, making it a household name for pioneers and businesses.
Wells Fargo faced many changes over the years, including government takeovers and new banking laws. In 1905, the express and banking businesses split, and the bank merged with Nevada National Bank. Through world wars, economic downturns, and the rise of new technologies, it adapted to meet the needs of each era.
A major milestone came in 1998, when Wells Fargo merged with Norwest Corporation, creating a coast-to-coast banking powerhouse. The company expanded further by acquiring Wachovia in 2008, which made it one of the largest banks in the US. Today, it stands as a leader in American banking, known for its resilience and commitment to serving millions of customers nationwide.
Wells Fargo’s offerings are structured to provide a range of options for independent advisors, individuals, and businesses. The company combines technology, national reach, and advisor support to deliver financial and investment solutions:
Wells Fargo also provides digital tools and platform enhancements to help advisors and clients manage their finances efficiently. The company’s national reach and experienced teams offer support and resources for a wide range of financial needs.
Wells Fargo states that its culture focuses on inclusion, support, and engagement for all employees. The work environment is described as one where people are encouraged to speak up and feel valued, with teamwork and respect emphasized.
Eligible employees at Wells Fargo receive a variety of benefits that support their health, finances, and work-life balance, including:
According to Wells Fargo, it supports social, economic, and environmental sustainability through business practices and community efforts. The company reports $178 billion deployed in sustainable finance over three years, including $16 billion for renewable energy. It also notes $55 billion in commitments to oil, gas, utilities, and over $15 billion for clean transportation.
Charles W. Scharf is CEO and President of Wells Fargo, leading the company’s strategy and operations since 2019. Scharf previously served as CEO of Bank of New York Mellon and Visa, and held executive roles at JPMorgan Chase. He brings over 30 years of experience in banking and payments, including leadership in both public and private companies.
Here are the key people overseeing Wells Fargo’s investment, banking, and financial management divisions:
The board and management state that they are committed to sound and effective corporate governance. Leadership aims to ensure strong oversight and clear accountability throughout the company.
Wells Fargo Investment Institute’s chief investment officer shared four signals that could support a longer bull market for clients. The firm highlights trends like AI growth, fiscal clarity, and broadening market strength as reasons for optimism through 2026. This analysis helps the company guide investors with strategies that match changing market conditions and future opportunities.
Wells Fargo Advisors also brought in four experienced professionals in 2025, adding nearly $1 billion in assets under management. The company’s new hires from UBS and JPMorgan show its focus on attracting advisors with strong client relationships and established books of business. This move expands Wells Fargo’s wealth management division and increases the firm’s total client AUM.
Some politicians see it as part of a viable platform for the 2024 presidential election.
Wells Fargo alleged that a 'coordinated' effort to lure away advisors depleted an Arkansas branch office, forcing it to close.
As portfolio management becomes increasingly commoditized, advisors make the case for managing assets in-house and promoting that to clients as a unique value-add.
Native Americans are gaining economic muscle, and that expands horizons for investors and advisors who want to be part of their rise.
Advisors at Wells Fargo have been under a cloud since 2016, when the bank's fake-account scandal erupted.
Bruce and Jeff ring in 2023 with their guest Charles Rowlan, senior vice president of business development at Advyzon. They discuss Charles' extensive research on the ever-evolving advisor fee model.
The record haul for the six big banks occurred as volatility juiced trading hauls, investment bankers rode a dealmaking boom and Donald Trump boosted bottom lines by slashing taxes.
Garth Allan, who joins the firm in Newport Beach, California, delivers personalized investment planning and comprehensive wealth management advice.
The bank's settlement with the Consumer Financial Protection Bureau deals with a variety of allegations and includes a $1.7 billion fine that's the biggest in CFPB history.
One of the big themes in 2022 was how well the broad retail wealth management industry has insulated itself from the downside of the bust part of the cycle.
Thayer Potter founded Twin River Wealth Management, based on Selingsgrove, Pennsylvania, in 2017.
Known as the '3% investment policy,' the rule acted as a modest — if nagging — monthly charge on the revenue advisers generated.
The latest moves illustrate the push-and-pull dynamics of recruiting and hiring advisers at Wells Fargo.
The Consumer Financial Protection Bureau is pressuring the bank to pay the fine to settle a series of investigations into the bank's mistreatment of customers.
In a break with tradition, the firm is introducing next year's pay plan for its 12,000 advisers earlier this year.
