Wells Fargo taps senior female executive for new wealth management role

Wells Fargo taps senior female executive for new wealth management role
Heather Hunt-Ruddy previously held the role of head of business development and is remembered by some financial advisers for an apt analogy about Tater Tots.
SEP 10, 2021

Trying to put a bow on its broad reorganization of thousands of financial advisers, Wells Fargo's Wealth and Investment Management group, which includes Wells Fargo Advisors, said it had picked company veteran Heather Hunt-Ruddy as head of national sales with the intention of connecting the dots between a sprawling organization.

Over the past year, Wells Fargo's WIM group has seen a number of changes, including a sale of its asset management group, moving 800 or so private bankers and portfolio managers into Wells Fargo Advisors and cutting its international wealth management business.

"Heather will work to ensure we have the right connections established as we bring new products, services and offerings to our advisers," according to a memo sent this week to Wells Fargo advisers announcing the promotion. "And she will make sure that our client-facing teams have all the right resources and information they need in a timely manner."

Previously Hunt-Ruddy's title was head of business development, and she continues to report to Jim Hays, the head of Wells Fargo Advisors. The goal is for the organization to take care of pain points that financial advisers experience.

Heather Hunt-Ruddy was a 2018 InvestmentNews Woman to Watch nominee while at Wells Fargo. She is also remembered by some Wells Fargo financial advisers for her comments about Tater Tots and financial advisers cutting fees.

"Over the last 10 years, our fees have compressed less than 10 basis points," she told Barron's in 2019. "I do see financial advisers often thinking that the way to compete is to be the cheapest. And my lesson to them is, don’t be a Tater Tot."

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