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Wells Fargo Names Digital Chief, Shares IT Growth Plans

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Wells Fargo Advisors (WFC) said late Monday that it tapped Devon McConnell to head of WFA Digital, a new post that reports directly to WFA President Mary Mack starting later this month. 

McConnell most recently served as vice president of product and user experience design for and head of digital client strategy at JP Morgan Asset Management.

At WFA, she will be responsible for leading the vision, strategy, development and ongoing management of the company’s mobile and online client platform and the investment strategy for the digital platforms used by clients and advisors.

“Devon is a recognized and respected leader in top digital solutions roles and has been deeply immersed in technology, mobile and front-end experiences,” said Mack, in a press release. “Her knowledge of innovative solutions and customer friendly digital experiences will be a tremendous advantage to our business.”

Wells Fargo Advisors says it is “making its most significant technology investment in a decade” in order “to improve the client experience and provide additional mobility” to its 15,000-plus advisors. 

In 2015, the group plans to offer new online tools to guide clients through the investment process, launch a redesigned tablet application for client access to account information and research, and expand social media usage among financial advisors.

It also intends to launch the Wells Fargo Advisors Innovation Lab. “These investments are part of our multiyear commitment to leveraging the core strength of our business, the relationship an advisor has with the client, as we extend advice to our clients in a 24/7 world while building a clear onramp to investing for the next generation of investors,” added Mack.

Prior to her work at AmEx and JPMorgan, McConnell was a senior vice president and product director for Citigroup and was employed at the digital design agency Fusebox, where she worked on the JPMorgan Chase account.

Early last month, Morgan Stanley (MS) started letting its advisors share their news and views on Twitter, after such remarks are approved by the compliance department. Reps also can send pre-approved tweets whenever they like.  

“Now, we have opened up the advisors’ ability to do self-authored tweets in addition to tweets on our thought-leadership content,” said Valentina Chtchedrine, executive director for Wealth Management Digital Marketing Strategy, in an interview. “Since we launched our social media program in July 2012, they have been able to self-author updates on LinkedIn.”

Check out Wirehouse Fees & Commissions: Who’s On Top? — Q2 2014 on ThinkAdvisor.


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