St. Louis - August 6, 2010
Wells Fargo Advisors Financial Network, LLC (WFAFN), the independent brokerage arm of Wells Fargo & Company, today announced that it is expanding and realigning its Supervision Team in anticipation of continued growth in its independent financial advisor base.
The number of advisors affiliating with Wells Fargo’s independent broker-dealer has grown 24 percent 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.
“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 percent to $40 billion.
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.wfafinet.com
Wells Fargo’s brokerage businesses comprise 15,100 full-service financial advisors and 5,000 licensed bankers as of June 30, 2010. This vast network of advisors, one of the nation’s largest, serves clients through offices in all 50 states and the District of Columbia. 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 (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 banking stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked #19 on Fortune’s 2009 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.