The independent financial advice channel has grown considerably over the past decade and "if you believe that is a trend, and not a fad, why would we not be doing this?" an executive said.
Wells Fargo has made 10 big-ticket hires over the past two years to prove it has changed. Previously, it historically promoted from within.
Chalice Financial Network promises the perks and privileges that come with being part of a member organization, a la Costco.
The two latest teams joined from Bank of America's Merrill Lynch.
The regional bank known for lending to advisory firms has started one of its own.
The head of Wells Fargo Wealth and Investment Management also announced a search for an operations executive to further improve the unit’s efficiency.
Opportunity funds are both innovative and controversial.