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Wells Fargo Names New Head of Indie Advisor Group

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What You Need to Know

  • John Tyers, former chief growth officer of AdvisorEngine, has been tapped to lead the independent advisor group at Wells Fargo.
  • The industry veteran will report to Jim Hays, the head of Wells Fargo Advisors.
  • The announcement comes as Wells Fargo Advisors finished the second quarter with $1.94 trillion in client assets.

Wells Fargo Advisors says it has hired John Tyers to lead its independent advisor group, which includes Wells Fargo Advisors Financial Network (or FiNet), First Clearing and the bank’s RIA custody business.

Tyers most recently was chief growth officer for the fintech firm AdvisorEngine. Earlier, he led the private wealth business of Citizens Financial Group. He also spent seven years at Merrill Lynch, six years at Bear Stearns and six years at Charles Schwab; for the latter two firms, he focused on custody services and platforms for RIAs, independent broker-dealers, single- and multi-family offices, and trust companies.

As part of Tyers’ appointment, the heads of both FiNet Kent Christian and First Clearing John Peula will report to him starting Friday. Tyers will report to Jim Hays, head of Wells Fargo Advisors.

“I am thrilled to bring John on board as I believe we have enormous growth potential in our independent advisor channels,” said Hays in a statement. “With John’s past experience leading so many facets of the independent experience throughout his career, we are set to make these already strong independent businesses even more powerful.”

Wells Fargo Advisors had some $1.94 trillion in client assets as of June 30; the broader unit Wells Fargo Wealth and Investment Management  had 12,810 financial and wealth advisors. Its FiNet channel has roughly 1,350 advisors, while its First Clearing unit works with 53 independent broker-dealers.

(Pictured: John Tyers)