Wells Fargo Advisors Financial Network is celebrating its 25th anniversary while posting one of the strongest recruiting stretches in its history.
The independent contractor channel, known as FiNet, added teams representing roughly $5.5 billion in client assets during January and February, according to a Tuesday announcement from the firm.
The momentum comes as more advisors look for independent platforms that offer ownership and flexibility while still providing access to the resources of a large financial institution, the firm said.
“FiNet has been a trusted home for advisors who want true independence without trade offs for more than two decades,” said John Tyers, president of Wells Fargo Advisors Financial Network. “Advisors see the firm’s commitment and are voting with their feet. They’re choosing FiNet to build their own firm or plug into an established practice as they scale.”
Launched in 2001, FiNet operates as the independent contractor channel of Wells Fargo Advisors. The model allows advisors to run their own practices while using the firm’s brokerage, banking and wealth management infrastructure.
The firm said access to private wealth capabilities has become an increasingly important draw for advisors serving affluent clients. Through Wells Fargo affiliates, advisors can tap advanced planning services, complex lending and other solutions typically associated with ultra-high-net-worth clients.
Those capabilities can be particularly valuable for advisors working with business owners and entrepreneurs experiencing liquidity events, or for teams serving multigenerational families with more complex needs.
Technology investment has also been a focus as the firm looks to attract and retain advisors. FiNet advisors have access to modernized desktop tools, analytics and expanding artificial intelligence capabilities while maintaining the flexibility to operate their practices independently.
“We continue to invest heavily in technology shaped by advisor feedback,” Tyers said.
Wells Fargo Advisors Financial Network is part of Wells Fargo’s Wealth and Investment Management division and supports independent advisors across the country.
