At a glance
- David Lee joined in Palo Alto, California, from U.S. Bancorp Advisors, where he managed more than $160 million in client assets.
- The pay side is moving at the same time.
- Moves Wire records 35 Wells Fargo moves over the past 12 months, of which 12 were departures and 3 were joins.
Wells Fargo Advisors recruited two advisors who oversaw a combined roughly $400 million in client assets to its bank-based channel, hiring from U.S. Bancorp Advisors and J.P. Morgan, InvestmentNews reported Nov. 13.
David Lee joined in Palo Alto, California, from U.S. Bancorp Advisors, where he managed more than $160 million in client assets. Aurian Faridi joined in Houston from J.P. Morgan, where he oversaw approximately $240 million. Both sit in the bank-based channel, which places advisors inside Wells Fargo branches to serve clients alongside bankers, with the same access to firm resources as advisors in the traditional brokerage model, according to InvestmentNews.
The pay side is moving at the same time. Late last month Wells Fargo Advisors adjusted the revenue and pay hurdles in its advisor compensation plan, the first change to those targets in half a decade, InvestmentNews reported. "We want to make sure our advisor compensation plan is aligned with our business strategy and that we are partners together," Sol Gindi, head of Wells Fargo Advisors, told InvestmentNews. Hurdles set the revenue an advisor must reach to earn a given payout rate, so resetting them changes take-home pay on an unchanged book — the figure a recruit weighs against whatever grid the departing firm offers.
Moves Wire records 35 Wells Fargo moves over the past 12 months, of which 12 were departures and 3 were joins. The latest was Cristina Cardenas, who moved from Merrill to Wells Fargo Advisors on Nov. 6. Departures still outnumber recorded arrivals in that count by 12 to 3.
At UBS Wealth Management, Kelley Hart joined the Westport, Connecticut, office from JPMorgan Chase, where she worked as a financial advisor. Hart has a 17-year track record in financial services and specializes in long-term financial planning and multigenerational wealth, working with families on generational disagreements over money, aligning goals and preparing heirs to manage wealth. She joins the East Division under Chris DiMuria, Market Executive Kevin Adams and Market Director Jim Miller. The hire comes as UBS works to stabilize its U.S. advisor headcount after departures that made it one of the biggest net losers of advisors in 2025, InvestmentNews reported.
Atlas Legacy Advisors went past $1 billion in assets under management after bringing on a Southern California family office team, according to InvestmentNews — a team joining a firm that just cleared $1 billion, in the same recruiting column that carried two individuals into Wells Fargo's branch network.
We want to make sure our advisor compensation plan is aligned with our business strategy and that we are partners togetherSol Gindi, head of Wells Fargo Advisors
Reported by the Moves desk from InvestmentNews and Moves Wire. Published . Corrections