Wells Fargo Advisors has added more than $9.6 billion in client assets during the first two weeks of May, pulling in experienced advisors from Morgan Stanley, UBS, Merrill Lynch, and JPMorgan. The wirehouse's recruiting surge was driven by three large team acquisitions and several individual advisors, each overseeing at least $100 million in client assets before their move.
The largest addition was the Taylor Group, a $5.94 billion team that left Morgan Stanley to join Wells Fargo's New York City office. In Frisco, Texas, the AGT Private Wealth Group brought over $1.6 billion in client assets after departing UBS. Meanwhile, in Lemoyne, Pennsylvania, the Bartoli Private Wealth Management Group moved from Morgan Stanley with roughly $1.49 billion.
Beyond those headline teams, Wells Fargo also added several individual advisors between May 1 and May 15. Craig Mayeux came from Merrill Lynch in Charlotte, North Carolina, where he managed close to $120 million. Richard Cochran left Stifel, Nicolaus & Company in Dublin, Ohio, bringing more than $125 million. Charles Bledsoe departed Raymond James in Hermitage, Tennessee, with approximately $115 million. Phillip Hohn, who joined alongside his spouse Donna Hohn (a Senior Registered Client Associate), arrived from Merrill Lynch in Pleasanton, California, with nearly $100 million. Edgar Tejeda Gonzalez transitioned from JPMorgan in Oakdale, California, where he had been responsible for upwards of $120 million.
Sol Gindi, head of Wells Fargo Advisors, said in a statement: “Advisors are continuing to choose Wells Fargo because of the strength of our platform. By combining the full capabilities of a leading wealth management firm with a client-first approach, we are attracting top talent.” The firm has been investing in technology and support services to compete with larger rivals, including a recent AI-enhanced advisor gateway.
The recruiting push comes amid a broader wave of advisor movement across the industry. In recent weeks, LPL-affiliated Genesis Wealth hired a JPMorgan veteran with $725 million, while UBS added $2 billion in the Southeast and Osaic lured a $300 million team from Wells Fargo. The competition for experienced advisors remains intense, with wirehouses and independent channels vying for top producers.
Wells Fargo's ability to attract large teams from Morgan Stanley and UBS underscores its efforts to rebuild its wealth management division after a series of scandals and regulatory fines in recent years. The firm has focused on improving its culture and advisor tools, including a generational wealth transfer strategy to retain heir clients.
The $9.6 billion haul in just 15 days positions Wells Fargo as a significant player in the recruiting landscape, though it still trails larger rivals in total advisor headcount. The firm's ability to sustain this momentum will depend on continued platform enhancements and competitive payout structures.
