Wells Fargo Advisors has tapped Farhad Firoozi, a former executive at LPL Financial, to lead its recruiting efforts.
Firoozi joined Wells Fargo on Tuesday in San Diego, and reports to James Craven, Wells Fargo Advisors' head of National Sales and of Advisor & Client Experience.
“As more advisors choose independence in our industry, we’re thrilled to bring on Farhad with his level of expertise in that space," Craven said in a statement.
"We continue to enhance and evolve our independent offering as part of our multi-channel model,” he added, “and we’re excited for Farhad to work with our managers nationwide in attracting more financial advisors to Wells Fargo.”
Firoozi was a recruiting executive at LPL for more than six years, managing a sales team that recruited advisors into various independent models at LPL Financial in the West, according to his LinkedIn profile.
He led the Advisor Networks recruiting team to bring in large enterprises, as well as headed the Institution Advisor Recruiting team, responsible for recruiting into credit unions and banks.
Earlier, he was a regional director with Ameriprise Financial. Prior to that role, he was a regional director for LPL for six years and an area sales representative for American Funds for two years.
In addition, he worked in brokerage product sales for LPL from early 2006 to early 2008 — giving him nearly 15 years of professional experience at the broker-dealer.
Among independent firms, LPL Financial had a net jump of 2,923 experienced advisors in 2024; this figure includes movement tied to several acquisitions and its partnership deal with Prudential, which included 1,700 advisors, according to Diamond Consultants' 2024 Advisor Transitions Report.
Wells Fargo Advisors Financial Network (FiNet) grew by a net 232 advisors last year, the recruiting group says.
— Janet Levaux contributed to this report.
(Photo courtesy of Wells Fargo)
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