Advisers managing $587M join Wells Fargo from Morgan Stanley

Advisers managing $587M join Wells Fargo from Morgan Stanley
The group opened Encore Wealth Management at Wells Fargo Advisors Financial Network.
AUG 30, 2016
A team of financial advisers in California that manages $587 million in client assets has joined Wells Fargo & Co.'s independent brokerage arm from Morgan Stanley. Matt Petersen, Dwayne Michael, Michael Budd, Brian Gibson, Randy Gibson and Andy Carrigan are now providing financial advice at Encore Wealth Management, an independent practice that's part of Wells Fargo Advisors Financial Network. The Fresno, Calif.-based advisers oversee $587 million of client assets, according to Wells Fargo Advisors Financial Network, often referred to as FiNet. The bank's independent brokerage arm has more than 630 wealth management practices and more than 1,300 financial advisers, according to its website. (More: See all the latest moves in the InvestmentNews Advisers on the Move database) Christine Jockle, a spokeswoman for Morgan Stanley, confirmed the departure of the advisers and declined further comment.

Latest News

Trump not planning to fire Powell, market tension eases
Trump not planning to fire Powell, market tension eases

Futures indicate stocks will build on Tuesday's rally.

From stocks and economy to their own finances, consumers are getting gloomier
From stocks and economy to their own finances, consumers are getting gloomier

Cost of living still tops concerns about negative impacts on personal finances

Women share investing strengths, asset preferences in new study
Women share investing strengths, asset preferences in new study

Financial advisors remain vital allies even as DIY investing grows

Trump vows to 'be nice' to China, slash tariffs
Trump vows to 'be nice' to China, slash tariffs

A trade deal would mean significant cut in tariffs but 'it wont be zero'.

Fed's Kugler warns of worse-than-expected impact of tariffs
Fed's Kugler warns of worse-than-expected impact of tariffs

Inflation, economic risk is greater than previously thought.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.