Job Description
About Wells Fargo
At Wells Fargo, we want to satisfy our customers’ financial needs and help them succeed financially. We’re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you’ll feel valued and inspired to contribute your unique skills and experience. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
Wealth and Investment Management (WIM)
WIM provides personalized wealth management solutions that meet clients’ unique needs, including asset management, brokerage, private banking, estate planning strategies, trust, insurance, investment advisory, wealth planning, and retirement solutions for individuals and institutional clients. WIM has embarked on a multi-year initiative to transform from its current federation of businesses that collaborate to ONE WIM line of business that is better, faster, and simpler. Our new model will enable growth, enhance our ability to serve our clients, make us competitive in today’s dynamic environment, and position us to reach our full potential.
Wells Fargo Advisors
Wells Fargo Advisors (WFA) operates the nation’s third-largest brokerage business with more than 14,000 full-service financial advisors in locations nationwide and around 4,100 licensed bankers in Wells Fargo branches. Our client segments serve clients with investible assets from less than $250,000 to over $10 million. For our clients we offer advice for wealth management, investments, private banking, insurance and trust services. Our clients are served directly through WellsTrade, Intuitive Investor, and world class employee Advisors that specialize in investments, banking, and planning and through independent firms and advisors. Our national footprint boasts more than 600 brokerage locations, 5,000 Consumer Bank locations, as well as, best-in-class virtual options.
Areas of Distinction
- Unique structure and scale that combine the capabilities and best practices available through a large, national firm with a client focus more typical of smaller firms.
- Dedicated to Financial Advisors and their relationships with clients.
- Unprecedented choice and flexibility for Financial Advisors and their clients through distinct business channels supported by established products, services, and technology.
World class expertise in banking, investments, and planning with segmentations that meet clients’ needs in all walks of life.
Multichannel Business Model
9,718 Financial Advisors work in the traditional brokerage channel of Wells Fargo Advisors through Wells Fargo Clearing Services, LLC, with branch offices located in all 50 states and the District of Columbia. In addition, the firm’s in-bank brokerage channel includes 3,436 Financial Advisors and 4,093 Licensed Bankers located in Wells Fargo bank branches. Licensed Bankers are employees of Wells Fargo Bank, N.A., and also registered representatives of Wells Fargo Clearing Services, LLC. In addition, advisors work closely with the firm’s Independent Brokerage Group, operating out of Wells Fargo Advisors Financial Network, LLC, a separate broker-dealer and non-bank affiliate of Wells Fargo & Company. The clearing operations of Wells Fargo Clearing Services, LLC (which are conducted under the First Clearing trade name) provide operational, clearing, and related consulting services for the affiliated Wells Fargo retail brokerage business and approximately 69 unaffiliated brokerage firms.
WFA Financial Network Branch Development Group
The WFA Financial Network currently consists of eight regions covered by seven Region Heads. These purposefully align with the eight regions that make up the WFA Regional Network, which are led by eight domestic Division Senior Managing Directors covering the following divisions: Eastern, Southeast, Northeast, Midwest, Pacific South, Southwest, Pacific Central, and Pacific North. The Head of FiNet Business Development Group will be responsible for the leadership, business planning, Advisor engagement and retention, and recruitment of Advisors nationwide. With over 1300 Financial Advisors, FiNet enjoys the highest FA productivity in the independent brokerage marketplace.
The Position
The Head of FiNet Branch Development Group (BDG) is a member of the FiNet senior leadership team and leads FiNet field-based leadership nationwide. The role reports directly to the Head of WFA Financial Network.
As the Head of FiNet Branch Development Group, you will focus on the development and execution of a comprehensive growth strategy that includes attracting, developing and retaining high-performing non-employee affiliate Advisors as well as FiNet employees that support the success of our practices. The growth strategy will include executing on a wide range of initiatives that drive continuous improvement to the onboarding, daily support, product, and capabilities offered for the Advisors while optimizing partnerships and managing risk. You will take a ‘hands-on approach with Advisor acquisition, expansion & retention. Success will require building and nurturing strong partnerships with WIM and Wells Fargo key stakeholders such as WFA Regional Network, FA Integration, Client Experience and Growth, Finance, Compliance and Legal to drive retention and growth with a strong adherence to risk management and mitigation.
As the leader of BDG, you must be highly knowledgeable about Wells Fargo’s competitive environment and the changing dynamics of the industry. This role requires a ‘get it done’ business-focused executive known as an innovative problem solver who delivers results. Success will be measured through driving net Advisor headcount and revenue through the acquisition and development of high-performing talent, growth in client assets and liabilities and growth in net asset flows. Growing the Wells Fargo Advisors Financial Network, Wells Fargo Advisors and Wealth and Investment Management brands in the marketplace will be a priority, including differentiating against our competitors by leveraging the full spectrum of financial offerings.
You must have a proven track record for talent acquisition and development, the ability to execute aggressively against strategy and be sharply focused on delivery of specific business and performance objectives, and able to manage with sound controls and thoughtful risk mitigation.
The Head of FiNet BDG will possess a deep understanding of the brokerage and independent business and be highly knowledgeable on the full range of services and strategies involved in serving clients and Advisors, including traditional, RIA, investment management, banking, trust, and planning.
Job Expectations
- S/he is responsible for top line revenue growth and Advisor headcount through ongoing emphasis on deepening and broadening Advisor relationships and retention, as well as new Advisor acquisition, balanced with a prudent expense management approach.
- Drive business results; spearhead growth goals (net new assets, greater share of wallet, revenue, net income, and Advisor headcount) and provide consistent feedback on progress, opportunities and obstacles.
- Develop and/or integrate strategies, ensuring the full resources of the company are utilized to optimize overall results.
- Develop and maintain high level of credibility with clients and Advisors across all segments of the business. Exhibit an unwavering client focus and a ‘trusted advisor-like’ persona.
- Success in the design and implementation of strategies to grow revenue and Advisor headcount.
- Consistent financial and business performance and successful experience improving P&L.
- Develop and maintain partnerships in this complex financial services environment.
- Success leading the business through substantial change.
- Influence, partner and negotiate with senior business leaders and key stakeholders.
- Success in implementing diversity and inclusion in building high-performing teams.
- Active in community service.
- Ability to travel 50% or more of the time.
- Manage risk and regulatory change. Protect company reputation by raising risk awareness.
Licensing Requirements
- Financial Industry Regulatory Authority (FINRA) license(s) is required for ongoing employment in this position. In addition state registration, specific product licenses or SAFE licensing may apply.
- Registration for FINRA Series 7, 9/10, 24, and 66 (or 63 & 65) must be completed within 120 days of hire date if it is not available for transfer upon hire.
- Additional requirements include meeting enhanced financial fitness and criminal background standards. Wells Fargo will initiate the FINRA review process at the time of offer acceptance.
Required Qualifications
- 10+ years of financial services industry experience
- 8+ years of management experience
Other Desired Qualifications
- 15+ years of retail brokerage (independent broker/dealer and RIA a plus) or wealth management experience and financial services leadership experience.
- Extensive experience building top line revenue growth and Advisor headcount through ongoing emphasis on deepening and broadening Advisor relationships and retention, as well as new Advisor acquisition, balanced with a prudent expense management approach.
- Experience driving business results; spearheads growth goals (net new assets, greater share of wallet, revenue, net income, and Advisor headcount) and provides consistent feedback on progress, opportunities and obstacles.
- Success in developing and/or integrating business strategies, ensuring the full resources of the company are utilized to optimize overall results.
- History of highly credible relationships with clients and Advisors across all segments of the business. Unwavering client focus and a ‘trusted advisor-like’ persona.
- Proven ability to design and implement strategies to grow revenue and Advisor headcount.
- Strong leadership track record with experience in brokerage, RIA and investments.
- Proven history of consistent financial and business performance. Experience managing a P&L is a plus.
- Proven analytical, critical thinking and problem-solving skills with ability to understand complexities of business, risk implications and ensure effective controls are in place.
- A deep understanding of capital markets and the investment environment with the ability to converse with sophisticated investors on these topics.
- A demonstrated history of developing and maintaining partnerships in a complex financial services environment.
- Previous success leading a large complex business through substantial change.
- Proven ability to influence, partner and negotiate with senior business leaders and key stakeholders.
- Has strong recruiting skills and has implemented diversity and inclusion in building high-performing teams.
- Excellent verbal and written communication skills.
- Active in community service.
- Bachelor’s and advanced degrees.
- Ability to travel 50% or more of the time.
- Proven track record managing risk and regulatory change. Protects company reputation by raising risk awareness.
Job Expectations
- For specific FINRA qualification exams obtained after 9/30/2018, the Securities Industry Essentials (SIE) exam co-requisite may also be required
Disclaimer
All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.
Relevant military experience is considered for veterans and transitioning service men and women.
Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.