Wells Fargo recruiting surges, picks off advisors from UBS and Morgan Stanley

Wells Fargo is on a recruiting hot streak.

In the past four weeks, the firm has plucked more than a dozen advisors from rivals UBS and Morgan Stanley. They managed more than $1 billion in combined client assets, a spokeswoman confirms.

The new recruits are doing their part to help offset the advisor attrition the firm has experienced in recent years.

Advisor headcount stood at 13,450 for the first quarter, down approximately 1,500 advisors since the third quarter of 2016 when Wells Fargo’s banking scandals first came to light.

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