05.23.25

Wells Fargo Tweaks Threshold for FiNet Practices Hiring From Its Employee Channel

by: Miriam Rozen; Karmen Alexander

Wells Fargo Advisors has changed requirements that practices at its Financial Network (FiNet) unit must meet in order to hire a broker from its private client group. Under the new policy, which took effect April 1, Wells Fargo Advisors Financial Network practices can qualify to hire an internal transfer if they have added at least one external candidate with 75% or more of the revenue of the internal transfer that the practice plans to hire. Prior, FiNet practices had to recruit three external hires, with any amount of revenue, before they could add an internal transfer.

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