Productivity per adviser climbs 11.5%; market gains, asset flows boost the bottom line
Portfolio manager who helped feds must pay $390K, will do no prison time.
Next year, the wirehouse will increase expense accounts and other incentives to help advisers attract clients with the most money to invest.
Market performance, money flows push Wells Fargo Advisors' assets to record.
Two advisers, who together managed about $4.38 billion, join from NorthStar Financial Partners.
Revamped portal allows planners to talk among themselves.
The firm, which previously focused exclusively on ultra-high-net-worth clients, has added an executive and created a platform.
Executive vice president Bill Chetney will take the new title in January.
In a win for UBS Financial Services Inc., an SEC administrative judge dismissed allegations that two leading executives in Puerto Rico committed fraud in 2008 and 2009.
Fewer than 700 actions taken but agency collected a record $3.4 billion.
