Wells Fargo (WFC) says it recently recruited two advisors with some $234 million in client assets from rivals. The bank shared this news on Tuesday, the same day it released its Q3’14 advisor statistics.
Zelda Benson joined the firm in Seal Beach, California, from Ameriprise Financial Services (AMP), where she managed more than $132 million in client assets. Benson has been in the business for 27 years and began reporting to South Bay complex manager Richard Jacobs in mid-October.
James Harris moved to Wells Fargo in Albany, Georgia, from Bank of America-Merrill Lynch (BAC) in mid-September. At Merrill, Harris managed over $102 million in client assets. He reports to Albany branch manager Vic Sullivan.
Wells Fargo said it had a total of 18,772 registered representatives as of Sept. 30 — up from 18,661 in the prior quarter. Its level of client assets is $1.4 trillion.
Of this group, 15,163 are financial advisors, down from 15,189 as of July 30. The majority of these reps — 10,178 work at Wells Fargo Advisors branch offices. About 3,210 work in bank branches, with the remainder — 1,774 — working as independent Wells Fargo Financial Network (or FiNet) reps.