Wells Fargo hires another JPMorgan executive for wealth management

Wells Fargo hires another JPMorgan executive for wealth management
Barry Simmons is at least the third senior wealth management executive Wells Fargo has hired in the last few years from JPMorgan.
JUN 01, 2023

Wells Fargo & Co. said Thursday it had hired Barry Simmons to be the new head of national sales at Wells Fargo Advisors, which puts him in charge of recruiting at the wirehouse, one of the largest wealth management firms in the country with more than $1.9 trillion in client assets.

Most recently, Simmons had been managing director and divisional director at J.P. Morgan Securities. He'd been at the bank for seven years. He was replaced by Mike Ayerov, who last week was named eastern divisional director of branch-based advisors at J.P. Morgan Wealth Management.

Simmons is at least the third senior executive Wells Fargo has hired in the last few years from JPMorgan for a senior role in its wealth and investment management division, which includes Wells Fargo Advisors.

In 2020, Wells Fargo hired Barry Sommers from JPMorgan to lead its Wealth and Investment Management group, known internally as WIM. Then it hired Sol Gindi from JPMorgan as chief financial officer of WIM; two years later, he was promoted to head of Wells Fargo Advisors. Simmons reports to Gindi, according to a statement from the company.

"We are at a pivotal point in delivering on our growth strategy, with new technology and enhanced product offerings rolling out this year," Gindi said in a statement. "Barry’s deep industry experience will help us carry out our strategic objective to deliver all of Wells Fargo Advisors’ capabilities to serve clients and help advisors grow their businesses."

Bet big on bond ETFs, buy quality stocks and gold, says iShares strategist

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave