Wells Fargo Advisors filled another spot on the expanded financial services leadership team on Wednesday, promoting longtime insider Bob Vorlop to head up the newly created Products and Advice division.
Mary Mack moved last month to split the firm’s Financial Services Group (responsible for broker recruiting, products and technology) into three separate units: Innovation and Business Strategy; Mobile and Online Group, and Products and Advice. Following the shift, Joe Nadreau was the first of the three directors—all of whom report directly to Mack—to be appointed to lead the newly renamed Innovation and Business Strategy division. With Vorlop's appointment Wednesday, the firm is now focusing on finding a head for the remaining Mobile and Online group.
“Bob Vorlop and Joe Nadreau are two leaders who bring tremendous industry experience and seasoned viewpoints to the leadership groups that play central roles in helping our financial advisors provide the advice and financial solutions our clients need,” Mack said in a statement Wednesday.
Vorlop, who previously served as head of Wells Fargo Advisors’ investment and advisory products group, has been with Wells Fargo for 30 years, serving in a number of leadership roles. As head of the products and advice division, Vorlop will oversee the lending and banking services, investments and advisory products, financial advisor recruiting, and financial advisor & branch manager development and retention.
Focusing on advisor strategy, Nadreau—who joined Wells Fargo in 1999—is responsible for the creation and management of the strategies, processes and platforms that help improve advisor productivity and client service. These include the client experience team, advisor best practices programs and WFA Strategy, which leads the strategic planning effort for the brokerage business.