Ex-AdvisorEngine chief growth officer John Tyers is now the head of the independent advisor group at Wells Fargo Advisors, the company announced last Thursday.
In the newly created role, he will oversee the leaders and businesses of Wells Fargo Advisors Financial Network (FiNet), First Clearing and the Registered Investment Advisor (RIA) custody business.
Kent Christian, who directs FiNet, and First Clearing director John Peluso will remain at the company and report to Tyers, a spokesperson says.
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Financial advisor Alan Kodama’s team aligned with the No. 1 IBD as it reeled in $35 billion in recruited client assets in the second quarter.
August 2 -
Philadelphia-based Janney Montgomery Scott added three teams from Wells Fargo and Merrill Lynch across two states managing $1.4 billion in client assets.
July 22 -
The massive hybrid RIA hired Ana Trujillo Limón in a bid to leverage media for practice growth and recruiting the next generation of planners.
July 21
“Looking back at the roles I’ve had throughout my career, I’ve experienced the greatest personal fulfillment and success leading businesses serving independent advisors,” Tyers says in a statement to Financial Planning. “When I think of the massive scale and breadth of resources at Wells Fargo Advisors and understanding how committed they are to the independent channels, it was exciting to think about how advisors and their clients could benefit, and I wanted to be a part of that solution.”
Tyers previously led Citizens Financial Group’s private wealth segment. At Merrill Lynch, he served as president of the firm’s custody and clearing business for RIAs and independent broker-dealers. He also led custody services and platforms for RIAs, independent broker-dealers, and single and multi-family offices at both Bear Stearns and Charles Schwab, according to the statement.
“I am thrilled to bring John on board as I believe we have enormous growth potential in our independent advisor channels,” Jim Hays, head of Wells Fargo Advisors, says in the statement. “With John’s past experience leading so many facets of the independent experience throughout his career, we are set to make these already strong independent businesses even more powerful.”
Recruiter Mark Elzweig, president of Mark Elzweig Company, says recruiting advisors for its independent channels is a priority for Wells Fargo.
“They are bringing someone on board with broad-based experience in this area to enhance their success,” he says.
