Finet w Wells, Will history repeat itself?
Wells Fargo once owned an independent BD. It is now First Allied. Given past history will Finet be sold to another independent BD? Seems like they have enough on their plate with the wire house and bank distribution channels given Finet’s comparative small size why not sell it off?
Finet has been fastest growing part of WS. Of course size is small in comparison. But platform is extremely simaler, so no problem for HQ to run.More likley its complements the whole for attracting producers and selling entire firm later to competition.