Wells Fargo Advisors Financial Network, LLC (St. Louis)

Name: Wells Fargo Advisors Financial Network, LLC
Address: One North Jefferson Avenue, St. Louis, MO, 63103
Telephone: 314-875-3000

Wells Fargo Advisors Financial Network, LLC is a large advisory firm based in St. Louis. It manages $47.52 billion of regulatory assets for 154,383 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.

Wells Fargo Advisors Financial Network provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and investment consulting services to institutional clients. It prepares financial plans for more than 100 clients. On top of advisory services, the firm also engages as insurance product sales.

Wells Fargo Advisors Financial Network: assets under management

The assets under management (AUM) of Wells Fargo Advisors Financial Network, LLC is $47.52 billion. The firm's AUM has grown by 463% since the beginning of its operation, and $34.33 million of the total AUM is attributable to clients outside of the United States.

The firm manages $34.53 billion in discretionary accounts and $12.99 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $299.6 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $331.98 thousand.

Wells Fargo Advisors Financial Network has custody of $49.15 billion in cash and securities for 149,098 clients in total and acts as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 56% of the total AUM. The second-largest asset type is exchange traded securities, which make up 30% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wells Fargo Advisors Financial Network, LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and commissions. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Charlie Kent Christian serves?

The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, banking or thrift institutions, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Charlie Kent Christian is high net worth individuals with 63,863 clients and $30.33 billion of assets under management. Among the 11 most similar advisory firms, Wells Fargo Advisors Financial Network has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $47.52 billion for 154,382 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Wells Fargo Advisors Financial Network doesn't advise any private funds.

Careers at Wells Fargo Advisors Financial Network, LLC

The company employs 1,978 people that are either part- or full-time employees. 61 percent of the employees work as investment advisers or researchers. 1,711 employees are registered as investment adviser representatives with the state securities authorities.

There are 56 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Charlie Kent Christian has been acting as President since 1 Jul 2012. James Mchale joined the executive team most recently as the Business Control Leader.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Diane Patricia Gabriel	Director of sales supervision/member-board of managers	1 Apr 2002	Other	1063352
John Gabriel Jr Peluso	President/member-board of managers	1 May 2003	Other	1902776
Llc Wachovia Securities Financial Holdings	Sole member	1 Dec 2003	75% - 100%	72-1560834
Douglas Laird Kelly	Chief legal officer, secretary	1 Mar 2008	Other	2428802
Kevin Michael Lawlor	Cfo/member-board of managers	1 Jul 2008	Other	1952433
Kevin Brady Hurley	Compliance officer (investment advisor only)	1 Dec 2008	Other	1293748
Paul Cameron Sankovich	Chief compliance officer (except investment advisor)	1 Apr 2009	Other	2475029
Philip Ross Lombardo	Chief financial officer	1 Aug 2011	Other	1839124
Charlie Kent Christian	President/ceo/member-board of managers	1 Jul 2012	Other	1465883
Colleen Mary Mcelroy Mathis	Director of sales supervision/member-board of managers	1 Sep 2012	Other	2700579
Ulric P Mcgough	Designated texas officer	1 Apr 2013	Other	2573824
Kathleen Ellen Barney	Chief financial officer	1 Aug 2013	Other	6168269
Brand Frederick Meyer	Member- board of managers	1 Nov 2013	Other	808629
Richard Elias	Member-board of managers	1 Nov 2013	Other	5214471
Richard Elias	Member - board of managers	1 May 2015	Other	5214471
Mark William Hubbert	Chief risk and credit officer	1 Sep 2015	Other	1802805
Alex Marcus David	Managing director of branch development group and marketing	1 Jul 2017	Other	2421489
Richard Joseph Jr Calhoun	Director of innovation & growth	1 Jul 2017	Other	2322340
Alexis Marie Cosse	Head of branch network	1 Jul 2017	Other	6097953
Heather Huntruddy	Member - board of managers	1 Nov 2017	Other	2091956
Kelly Metz	Principal operations officer/back office operations	1 Oct 2018	Other	2251657
James Mchale	Business control leader	1 Feb 2019	Other	6052977

Indirect Owners

The SEC currently registers 15 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Llc Prudential Capital & Investment Services	Share holder	1 Nov 1982	75% - 100%	22-2422630
Inc. Pruco	Share holder	1 Dec 1983	75% - 100%	22-1916656
Wells Fargo & Company	Share holder	1 Sep 1998	75% - 100%	41-0449260
Inc. Prudential Financial	Share holder	1 Dec 2001	75% - 100%	22-3703799
Everen Capital Corporation	Share holder	1 Jul 2003	75% - 100%	36-4019175
Llc Wachovia Securities Holdings	Member	1 Dec 2003	50% - 75%	72-1560830
Inc. Prudential Securities Group	Share holder	1 Apr 2004	25% - 50%	22-2347336
Inc. A.G. Edwards	Share holder	1 Jan 2008	75% - 100%	26-1271560
Wells Fargo & Company	Share holder	1 Jan 2009	75% - 100%	41-0449260
Wachovia Corporation	Stockholder	1 Jan 2009	75% - 100%	26-3918610
N.A. Wachovia Bank	Stockholder	1 Jan 2009	75% - 100%	26-3918610
Wells Fargo & Company	Share holder	1 Mar 2010	75% - 100%	41-0449260
Inc. Wells Fargo Investment Group	Share holder	1 Mar 2010	Other	41-1975159
Everen Capital Corporation	Share holder	1 Aug 2010	75% - 100%	36-4019175
Llc Wfc Holdings	Share holder	1 Dec 2017	75% - 100%	41-1921346

Based in St. Louis

The principal office where Wells Fargo Advisors Financial Network, LLC performs its advisory services is located at One North Jefferson Avenue, St. Louis, MO 63103, which is also the mailing address of the firm. An additional office of the firm is in Lenox, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 314-875-3000 or by fax 844-879-2154. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at wachovia.com.