According to the announcement, the number of advisors affiliating with Wells Fargo’s independent broker-dealer has grown 24% over the past 18 months. In order to address the needs of these additional business owners – including training, monitoring the execution of trades and ensuring the maintenance of professional standards and compliance issues – WFAFN has both expanded its Supervision Team and realigned the group to more efficiently support advisors in their local markets, according to the firm.
“We believe that our unprecedented growth is a direct result of the way we deliver full-service investment services through advisors who help meet the financial needs of their clients in their markets,” said John Peluso, president of Wells Fargo Advisors Financial Network. “To sustain that rate of growth, it’s important for us to deliver personal service to each practice while providing easy access to Wells Fargo’s technology and comprehensive product platform,” he said.
The Supervision Team comprises a director and three team leads who manage the firm’s network of Regional Supervisors who, in turn, serve as points of contact for WFAFN business owners concerning sales supervision topics.
Since 2001, when the independent arm of the firm was established, client assets have increased 600% to $40 billion, according to the firm.
Wells Fargo’s brokerage businesses comprise 15,100 full-service financial advisors and 5,000 licensed bankers as of June 30, 2010. Wells Fargo Advisors is the trade name used by two separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC. Statistics include other broker-dealers of Wells Fargo & Company.
More information is available at http://www.wfafinet.com