Wells Fargo lands JP Morgan broker team managing nearly $1 billion
Reuters
Published Nov 10, 2014 03:54PM ET
Wells Fargo lands JP Morgan broker team managing nearly $1 billion
NEW YORK (Reuters) - Wells Fargo Advisors, Wells Fargo & Co's brokerage unit, landed a three-person team from JP Morgan Private Bank where they managed $972 million in client assets and deposits.
Mike Reed, Zach Gates and Eli Strait, known as the Reed, Gates, Strait Wealth Management Group, joined Wells Fargo in November. The three operate an office serving high net worth clients in Lexington, Kentucky.
A spokesman for JP Morgan declined to comment, and Reed, Gates and Strait were not immediately available for comment.
Wells Fargo Advisors is the second largest securities brokerage in the United States by sales force, employing 15,163 advisers, according to a statement from the firm. Only Morgan Stanley employs more brokers, reportedly having 16,162 advisers as of Sept. 30.
Wells Fargo's overall head count has remained stable this year, with a net increase of 17 advisers since March 31.
(Reporting by Elizabeth Dilts; editing by Andrew Hay)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.