Wells Fargo Advisors

• FiNet's published 2020 pricing plan paid practices producing at least $500,000 between 85 and 92 percent of revenue before expenses, on a single revenue payout grid tied to the practice rather than the individual: 85 percent for practices producing $500,000 to $999,000, 86 to 91 percent in the tiers above, and 92 percent at $6 million or more. Platform fees, which consolidate administrative, clearing and execution charges across a practice's book, ranged from 6 basis points on the first $30 million of client assets to zero on assets above $500 million, across eight breakpoints.^[12]
• In 2023 AdvisorHub reported FiNet's net pay at 85 to 90 percent of annual revenue before expenses, and the Private Client Group's payout at 50 percent of fees and commissions once revenue crosses a monthly hurdle.^[13]
• In January 2018 the firm eliminated the fee it had charged employee advisors moving to FiNet, previously 15 percent of revenue in the first year and 10 percent in the second.^[14]
• In 2022 Wells Fargo created a bonus for certain employee advisors moving to FiNet who would otherwise have forfeited deferred compensation, per InvestmentNews.^[15]
• The Summit succession program, effective April 1, 2019, pays a retiring advisor a loyalty award equal to 25 percent of trailing twelve-month revenue, open to teams and solo producers, with a non-solicitation agreement running the length of the payments (about 60 months) plus 36 months. The acquiring advisor can receive a payment from Wells Fargo of up to 100 percent of the retiree's trailing twelve in two installments, one at retirement and one three years later.^[16]
• InvestmentNews reported the same program as bringing a retiring advisor's total valuation to up to 225 percent of annual fees and commissions, with the 25 percent award subject to a five-year vesting period.^[17]
• The firm's own succession page describes a data-driven valuation model as the starting point for negotiating a book's value, a choice of payment style between fixed monthly, fixed advance and revenue sharing, and a possible financial subsidy from the firm for an advisor acquiring a book. Transition packages for advisors joining from other firms are not published.^[18]

Both broker-dealers are Protocol members. The J.S. Held master list carries Wells Fargo Clearing Services, LLC (formerly Wells Fargo Advisors, LLC and Wachovia Securities, LLC, doing business as Wells Fargo Advisors) as a member since January 10, 2006, with a joinder qualification added June 30, 2026, and Wells Fargo Advisors Financial Network, LLC (formerly Wachovia Securities Financial Network, LLC) as a member since the same date, also with a joinder qualification added June 30, 2026. The list records no withdrawal for either entity, in 2017 or since; the text of the qualifications is in a separate attachment to the list.^[19]

What the Protocol does and does not protect: the explainer.

What is FiNet?

FiNet is Wells Fargo Advisors Financial Network, LLC, the independent channel of Wells Fargo Advisors. An advisor owns and runs their own practice under their own brand and affiliates with FiNet as broker-dealer and registered investment adviser, with access to the same product, lending and trust resources as the employee channels. The FiNet site reports over 580 independent practices, and the SEC's September 2026 Form ADV file shows the entity with $252.3 billion in regulatory assets under management and 2,366 employees performing advisory functions.

How many advisors does Wells Fargo Advisors have?

Wells Fargo's quarterly supplement and Form 10-K do not report a financial advisor headcount. The SEC's September 1, 2026 Form ADV data file shows 7,957 employees performing investment advisory functions at Wells Fargo Clearing Services and 2,366 at Wells Fargo Advisors Financial Network, with 18,895 and 4,047 broker-dealer registered representatives respectively; those counts include staff who are not advisors. American Banker put the total at roughly 12,000 advisors in July 2026.

What are the ways to affiliate with Wells Fargo Advisors?

Four, in the firm's own terms: the Private Client Group, the traditional employee model; Wealth Brokerage Services, employee advisors in Wells Fargo Bank branches who receive banking team referrals; the Private Wealth Financial Advisor group, employee advisors focused on clients with $5 million or more; and FiNet, the independent model. A fifth route, custody for an advisor's own RIA through First Clearing, has operated with TradePMR since 2019 and is being rebuilt, with FiNet practices seeded in 2026 and external practices in 2027.

Is Wells Fargo Advisors in the Broker Protocol?

Yes, both entities. Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC have each been members since January 10, 2006, and each added a joinder qualification on June 30, 2026, per J.S. Held's member list. The list records no withdrawal for either entity.

What does FiNet pay?

The firm does not publish a current grid. FiNet's 2020 pricing plan, as reported by AdvisorHub, paid practices producing at least $500,000 between 85 and 92 percent of revenue before expenses on a single practice-level grid, with platform fees from 6 basis points on the first $30 million of client assets to zero above $500 million. In 2023 AdvisorHub reported the range at 85 to 90 percent before expenses, against 50 percent after a monthly hurdle in the Private Client Group.

Does Wells Fargo Advisors offer RIA custody?

Yes. Since January 2019 First Clearing, a Wells Fargo subsidiary, has offered custody to fee-only RIAs with TradePMR providing platform and transition support. In January 2026 Wells Fargo said a redesigned custody platform would be seeded with some FiNet practices moving to a fee-only model by the end of 2026, with external practices joining in 2027.