The banking behemoth, Wells Fargo & Co. (NYSE: WFC), is on the offensive in the wealth management sector, after a turnaround effort costing nearly $1 billion over three years.
As per Bloomberg, Wells Fargo is seeking to attract hundreds of independent advisors to join its platform. This is part of a broader strategy aimed at expanding the firm's services catering to affluent customers, said Barry Sommers, who is charge of Wells Fargo's wealth and investment management division.
"We believe over the next three to five years there's a significant opportunity to gain a lot of market share," Sommers ...