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Two brokers who left Charles Schwab to join the rival firm thought they were safe to bring their client books with them. FINRA says they were wrong.
The wealth manager has leveraged massive resources across its three channels, but it’s not altering its approach to the continuing breakaway movement.
Wells Fargo Advisors reported last month that its network of 12,367 financial advisers could face further reorganization in 2022.
But a recruiting expert says advisor independence comes with its own set of challenges.
The wirehouse aims to retain more advisors with changes it says will reduce complexity and boost incentives for growth.