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

Return to Archive



Fantastic news!!!!  Your professionalism, support and expertise were greatly appreciated.  You made a difficult situation much more bearable.

Marci M.


September 20, 2023
SEC Orders Legendary Capital Founder and REIT Advisors to Pay Nearly $5 Million

Corey Maple, co-founder of non-traded REIT sponsor Legendary Capital, has agreed to a $100,000 civil penalty to settle charges brought by the Securities and Exchange Commission (SEC).

September 19, 2023
Reg BI Violations Lead to FINRA's Fine on Another Broker-Dealer

The Financial Industry Regulatory Authority (FINRA) has fined and censured broker-dealer Network 1 Financial Securities and its chief compliance officer for violating Regulation Best Interest (Reg BI).

September 18, 2023
Troubles at an Arizona Park Funded by Municipal Bonds Are a Warning to Investors

The recent financial troubles at a sports arena in Mesa, Arizona, demonstrate that not all municipal bonds are equally safe.