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Wells Fargo to pay New York $65 million over cross-selling practices

October 22, 2018

Wells Fargo & Co. will pay a $65 million penalty to New York state related to its cross-selling practices. The bank failed to disclose to investors that the success of its cross-selling — the pitching of additional financial products to existing...

Wells Fargo Advisors to fire back against former brokers suing it

October 19, 2018

Wells Fargo Advisors plans to fight back against two ex-brokers who sued the firm this month, claiming they lost business in the wake of the bank's scandals, by filing a counterclaim against them in industry arbitration. The advisers, John L....

Ex-Wells Fargo brokers sue for damages, claiming they lost business in wake of scandals

October 18, 2018

Two brokers who left Wells Fargo Advisors at the start of the month have sued the firm, along with Wells Fargo Bank, alleging that the steady stream of scandals over the past two years at the bank and brokerage substantially damaged their business....

Wells Fargo team managing more than $239 million joins Janney

October 16, 2018

Janney has landed a four-member team from Wells Fargo Advisors. The team, which has more than 50 years in combined industry experience, managed over $239 million in client assets. Called KSF Wealth of Janney Montgomery Scott, the team of advisers...

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...

Finra bars former Wells Fargo broker in Florida

October 10, 2018

The Financial Industry Regulatory Authority Inc. on Tuesday barred a former Wells Fargo Advisors broker who allegedly manipulated a client's account to retain his special status at the firm as an international financial adviser, according to...

Tim Sloan hasn't turned around Wells Fargo

October 8, 2018

What's the appropriate board gift for a CEO's two-year anniversary? If you're Tim Sloan at Wells Fargo & Co., the correct answer is a short leash. Mr. Sloan took over the CEO role in mid-October 2016, which means the anniversary is this week....

Is the worst over for Wells Fargo Advisors?

September 29, 2018

After six years as a broker with Wells Fargo Advisors, Michael Landsberg parted company with the firm this past summer. And while the prime reason was a chance to start his own registered investment advisory firm, Mr. Landsberg acknowledged...

After setting up phony accounts, ex-Wells Fargo broker stole money

October 10, 2018

The Financial Industry Regulatory Authority Inc. on Tuesday barred a former Wells Fargo Advisors broker, who was also a Wells Fargo Bank employee, who stole $2,226 after opening phony accounts using the names of clients. Based in Hilton Head...

An alternative take on alternatives

July 1, 2013

Not just adding a slice but rethinking the whole pie, a new white paper from Wells Fargo Funds Management.

Baird adds $610 million by recruiting teams from Wells Fargo, Morgan Stanley

October 9, 2018

Baird's private wealth management business has brought on three veteran financial advisers who manage a combined $610 million. Gerald Galbraith and Cathie Coleman of The Galbraith Group in Abilene, Texas, oversee $220 million in assets and generate...

Independence simplified

October 16, 2015

Wells Fargo Advisors Financial Network (FiNet) simplifies independence for successful Financial Advisors through partnerships in order to help create an extraordinary business, life, and legacy.

Wells Fargo CEO is prepared to lead company indefinitely

September 21, 2018

Wells Fargo & Co. Chief Executive Officer Tim Sloan, commenting two days after the bank's chairman batted back Wall Street whispers that the board is looking to replace him, said he's prepared to keep running the company for much of the next...

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...

Benjamin F. Edwards & Co. has been picking off Wells Fargo brokers for years

October 2, 2018

Wells Fargo Advisors has lost hundreds of brokers and advisers over the last two years to rivals in the wake of scandals at its parent bank, but one firm, Benjamin F. Edwards & Co., has perhaps the greatest long-term success in recruiting advisers...

Wells Fargo chair denies rumors bank is seeking to replace CEO

September 20, 2018

Wells Fargo & Co. Chair Betsy Duke took the rare step of denying the bank is looking to replace its chief executive officer, saying the entire board backs him, following weeks of whispering on Wall Street that it had contacted former Goldman...

Finra bars ex-Wells Fargo broker with 41 years in the securities industry

September 10, 2018

The Financial Industry Regulatory Authority Inc.​ has barred a Wells Fargo broker with 41 years' experience for not taking part in an investigation into allegations that he made unsuitable investments for a client. Texas-based broker Edward...

Wells Fargo loses $161 million team to Ameriprise

August 14, 2018

A two-person team managing $161 million at Wells Fargo in Temecula, Calif., have joined the employee unit of Ameriprise Financial. John Burg and Tamara Colon, and their associate Amy Irvine, will operate as The Burg Group. Mr. Burg began his...

Wells Fargo plans to cut staff up to 10% within next three years

September 20, 2018

Wells Fargo & Co. plans to trim its workforce by about 5% to 10% within the next three years as CEO Tim Sloan works to pull the bank clear of a series of customer-abuse scandals and prop up a lagging stock price. The bank had 265,000 employees...

Ameriprise scoops up $140M family team from Wells Fargo

August 30, 2018

Ameriprise Financial Inc. has scooped up a $140 million family team from Wells Fargo. Peter De Arcangelis worked for nine years at Wells Fargo Clearing Services in Charlotte, NC, according to Finra BrokerCheck. At Ameriprise, he's working as...

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