John Peluso, head of First Clearing, the Wells-owned custody platform for fully independent RIAs, told WealthManagement.com that the new channel counts 13 ex-Wells teams and has started to look externally.
The lack of Black people and other minorities may explain why the world of ESG has fallen short on pushing corporations on race.
The Market Street Group, with about $500 million in client assets, moves over from Morgan Stanley.
As the result of background checks of all 87,000 CFPs, the group is now investigating 1,240 of them for possible misconduct.
The president of Wells Fargo’s independent unit, Kent Christian, details the firm's recruiting amid the pandemic.
“I said, ‘Doc, am I going to live?’ And it was just silence. He finally says, ‘We have a lot of work to do.’ And that day was a tough day for me.”
