Wells Fargo Advisors Financial Network Expands Regional Network Reflecting Record Growth for the Independent Arm

ST. LOUIS - April 22, 2010

Wells Fargo Advisors Financial Network, LLC (WFAFN), the independent brokerage arm of Wells Fargo & Company, today announced the expansion of its regional network from six to nine regions with the appointment of several new regional leaders.

This expansion reflects the record growth of WFAFN in 2009, driven largely by experienced financial advisors who left other firms to open independent practices. These advisors preferred to own a practice with the continued support of a well-established brand and access to a robust platform of investment and banking services.

Through recruiting efforts and growth of existing WFAFN practices, client assets have increased 600 percent to $40 billion since the independent arm was established in 2001. In 2009 alone, 160 financial advisors joined WFAFN, expanding its ranks to more than 800 advisors in 47 states including Alaska and Hawaii.

Regional Directors are responsible for expanding WFAFN not only by identifying qualified financial advisors interested in being business owners, but by working with existing practices and supporting them as they service the financial needs of their clients.

“We’re proud of our success and of our expanded leadership across the country,” said John Peluso, president of WFAFN. “We’ve grown because we stand at the intersection of full-service investment services and local control, which is an attractive place for successful financial advisors who want to own and operate their own business.”

Recently named Regional Directors for WFAFN include:

  • Scott Bruin, with 20 years of experience at Smith Barney (a predecessor of Morgan Stanley Smith Barney LLC), who will be managing the Southwest Region
  • Kimberly Hollenbeck, with 20 years of industry experience, most recently at Raymond James Financial Inc., who will be managing the South Pacific Region
  • Jason McLaughlin, with 13 years of experience in the Private Client Group of Wells Fargo Advisors, who will be managing the Great Lakes Region
  • Kent Whitaker, with 21 years of industry experience, most recently with LPL Financial, who will managing the New England Region

They will join the following existing regional directors:

  • Rick Calhoun, managing the Northeast Region
  • Charlie Cornett, managing the Southeast Region
  • Ryan Thomson, managing the Northwest Region
  • Margo Vuicich, managing the Gulf Coast Region
  • John Williamson, managing the Midwest Region

The Regional Directors report to Divisional Directors Craig Avery (New England, Northeast, and Northwest Regions), Ron Sallet (Midwest, Southwest and South Pacific Regions) and Alex David (Southeast, Gulf Coast and Great Lakes Regions).

About Wells Fargo Advisors Financial Network
For nearly a decade, Wells Fargo Advisors Financial Network (WFAFN), the independent investment arm of Wells Fargo & Co, has simplified independence by partnering with successful advisors and fostering a mutual passion for doing what's right for clients. www.whywaitfinet.com.

Wells Fargo’s brokerage businesses comprise more than 15,000 full-service financial advisors and 5,500 licensed bankers as of March 31, 2010. This vast network of advisors, one of the nation’s largest, serves clients through offices in all 50 states, the District of Columbia and Latin America. 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 (members SIPC). Statistics include other broker-dealers of Wells Fargo & Company. www.wellsfargoadvisors.com. Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC.

Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets, providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 stores and 12,000 ATMs and the Internet (wellsfargo.com) across North America and internationally.