Wells Fargo made a commitment 18 months ago that ‘money was no object’ when it came to rebuilding its wealth management brand. Refilling the seats that were left be advisors that bailed out in 2018/19 was its top priority.
Not only did they open the corporate coffers, but they bolstered their platform, upgraded senior leadership, and put their money where their mouth is… and the results have really begun to pour in.
Last week, Wells Fargo landed the largest producing UBS team in Alabama. The group includes Stephen Rice, Andrew Cundiff, and James Kline among others. Stationed in Birmingham, the team migrated and brought their $1 billion in assets under management with them.
This group joined two other large teams that left UBS for Wells Fargo the previous weekend, adding another $1 billion in client assets to the Wells Fargo ledger.
The appropriate term for what you are reading here is momentum. Pure and simple. Wells Fargo has pointed a bazooka at rivals like UBS, Merrill Lynch, and Morgan Stanley and fired it again and again and again. The results are undeniable.
As we continue to remain at the forefront of what advisors are listening to and why they are choosing Wells Fargo – expect more results just like this.
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As the Editor of The Gershman Group, a boutique financial services consulting firm, TGG brings expertise in financial analysis, strategic planning, and market research. With a keen eye for detail and a passion for helping businesses navigate complex financial landscapes, TGG delivers insightful, high-quality content to empower informed decisions. Backed by years of industry experience, TGG makes complex topics accessible through clear and compelling communication, shaping the firm’s thought leadership and commitment to excellence in financial services.
