Report: Wells Fargo Recruits $625M CA Teams from Morgan Stanley, LPL

Wells Fargo has recruited two California-based financial advisors from Morgan Stanley and LPL Financial who generated collective annual revenue of $6M and managed $625M in client assets, according to a December 2 report from Financial Advisor IQ.

A Wells spokesperson told the publication that The Fetsch Lee Group, led by Ron Fetsch and Jason Lee, has joined from Morgan Stanley. The duo reportedly generated over $3.8M in annual revenue from nearly $400M in client assets managed while at Morgan Stanley. Prior to that, Fetsch and Lee both served as advisors at Raymond James.

Meanwhile, former LPL advisor Michael Jowdy joins the firm’s FiNet independent platform as MWJ Wealth Strategies. Jowdy managed $225M in assets during his time at LPL, where he produced more than $2M in annual revenue. Prior to that, Jowdy also served as an advisor at ASB Financial Services.

Source: https://www.financialadvisoriq.com/c/4699174/628104/wells_fargo_lures_from_morgan_stanley?referrer_module=issueHeadline&module_order=2