Tag: Wells Fargo
SEC Charges Wells Fargo Advisors with Anti-Money Laundering Violations
The Securities and Exchange Commission has charged Wells Fargo Advisors with failing to file at least 34 suspicious activity reports in a timely manner...
SEC Charges Former LPL/Wells Fargo Broker with Stealing $680,000 from Clients
The Securities and Exchange Commission has charged Mario E. Rivero Jr., a former broker and investment adviser, with misappropriating at least $680,000 from his...
Private Equity Firms Complete Acquisition and Rebrand of Wells Fargo Asset...
Private equity firms GTCR LLC and Reverence Capital Partners L.P. have completed their previously announced acquisition of Wells Fargo Asset Management and have rebranded...
Wells Fargo Asset Management Rebrands and Names New CEO
Wells Fargo Asset Management, an asset management firm with $604 billion in assets under management, will soon rebrand as Allspring Global Investments.
As reported by...
Wells Fargo to Sell Asset Management Arm to Two Private Equity...
Wells Fargo & Company (NYSE: WFC) has agreed to sell Wells Fargo Asset Management to private equity firms GTCR LLC and Reverence Capital Partners...
iCapital Network to Buy Wells Fargo Alternative Investments Feeder Fund Platform
iCapital Network, a financial technology focused on alternative investing for the asset and wealth management industries, has agreed to purchase the alternative investments feeder...
FINRA Panel Rules that Wells Fargo Violated Nevada’s New Fiduciary Rule
In a landmark arbitration decision, the Financial Industry Regulatory Authority ruled that Wells Fargo must pay investor Ann De Jong, an emergency room physician,...
Massachusetts Fines Wells Fargo $450,000 over Unregistered Agents and Supervisors
The Massachusetts Securities Division has fined Wells Fargo $450,000 for failing to ensure that its agents and supervisors were appropriately registered in Massachusetts.
Wells Fargo...
Wells Fargo Names New President of Brokerage Unit
Wells Fargo Advisors, the brokerage unit of Wells Fargo & Company (NYSE: WFC), has named Jim Hays as its new president.
Hays, based in St....
Wells Fargo Names New Head of Asset Management Unit
Wells Fargo & Co. (NYSE: WFC), a financial services company with $1.9 trillion in assets, has appointed Nico Marais as chief executive officer and...
Principal Financial Group to Buy Wells Fargo Retirement Unit for $1.2...
Wells Fargo & Company (NYSE: WFC) has agreed to sell its retirement plan services unit to Principal Financial Group (Nasdaq: PFG) for $1.2 billion...
Wells Fargo’s Tim Sloan Abruptly Steps Down as President and CEO
Wells Fargo & Company’s (NYSE: WFC) chief executive officer and president Timothy Sloan has stepped down as CEO, president, and director, effective immediately.
The bank...
SEC Obtains $1.1 Million Judgment Against Former Broker
An Ohio federal court entered a consent judgment against John Gregory Schmidt, a former registered representative of Wells Fargo Advisors Financial Network and Stifel,...
LPL Financial Adds $360 Million Team from Wells Fargo Advisors
LPL Financial, the nation’s largest independent broker-dealer, has added Harbor Financial Group to its broker-dealer and corporate registered investment advisor platforms. The firm joined...
InvenTrust Closes $750 Million Unsecured Credit Facility
InvenTrust Properties Corporation, a publicly registered non-traded real estate investment trust, has closed on a $750 million amended and restated unsecured credit facility, increasing...
Former Wells Fargo Rep Receives 128-Count Indictment for Investment Fraud
John Gregory Schmidt, a former Wells Fargo Advisors Financial Network registered representative, has been indicted on 128 counts for conducting a million-dollar Ponzi scheme...
Wells Fargo Reaches $575 Million Agreement with States over Sales Misconduct
Wells Fargo & Co. (NYSE: WFC) has agreed to pay $575 million to settle widespread claims over the bank’s improper sales practices. The firm...
JLL Income Property Trust Expands and Extends Credit Facility
JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), has closed on the expansion and extension of a...
LPL Recruits Former Wells Fargo Advisors Financial Advisor
LPL Financial LLC, the nation’s largest independent broker-dealer, has recruited former Wells Fargo Advisors financial advisor Steven Jolly, who serves approximately $190 million of...
Triad Advisors Adds $850 Million Team from Wells Fargo
Triad Advisors LLC, an independent advisory and brokerage firm and subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE: LTS), has added Stonebridge Financial Group...
