Wells Fargo Launches New RIA Platform

Posted on February 14th, 2019 at 2:36 PM
Wells Fargo Launches New RIA Platform

From the Desk of Jim Eccleston at Eccleston Law LLC:

In a recent press release, Wells Fargo announced the launch of its new service offering to help advisors become RIAs through its multi-channel business model. The goal of the model is to allow for ownership, independence and flexibility, as well as business growth. TradePMR, a privately held brokerage and custodian service provider, would provide middle-office support, while also utilizing First Clearing.

The program is said to provide a multitude of business options including: being employed as full-service financial advisors in a variety of consumer bank branches, high-net-worth hubs, through phone-based system, or at a Wells Fargo branch. Alternatively, advisors also have the choice to associate independently with the Wells Fargo Advisors Financial network, as independent and non-affiliated broker-dealers working with First Clearing, or lastly, as fee-only RIAs with First Clearing and TradePMR for the custody and platform services.  

While the program is said to include a service team for the transitioning advisors, it is always best to seek independent counsel when considering and when executing a transition. If you are an advisor seeking to transition to a RIA firm, please contact us.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, wells fargo, ria, tradepmr, first clearing, business model

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