Wells Fargo AUM

Wells Fargo Assets Under Management (AUM)


2022 Wells Fargo total assets under management. Wells Fargo AUM: client assets, brokerage accounts, and mutual funds assets.


Wellstrade Assets Under Management (AUM)


Wellstrade assets under management $603 billion


Wells Fargo Investing


Wells Fargo offers three ways to invest. The first option is through its on-line discount brokerage arm WellsTrade. The second is through Wells Fargo Advisors Solutions, which provides consultations with investment advisors over the phone. The final way is to set up an account with Wells Fargo Advisors, which provides both phone service and in-person consultations with a financial advisor at one of the company’s branch locations. There is at least one location in every state and the District of Columbia.

These three options combine to produce a very large brokerage firm. The company has close to 15,000 financial advisors across the country. This makes Wells Fargo the third largest full-service provider of retail investment services in the United States. In total, Wells Fargo has $3 trillion (yes trillion with a t) in client assets. According to the financial newspaper Barron’s, Wells Fargo is the fourth largest wealth management provider in America.


Wellstrade and Competitors


Broker Review Promotion
Offer
Stock/ETF
Commission
Mutual Fund
Commission
Maintenance
Fee
Annual IRA
Fee
M1 Finance Up to $500 cash bonus for funding account at M1 Finance. $0 na $0 $0
Ally Invest Up to $3,000 cash bonus + $0 commission trades. $0 $9.95 $0 $0
TD Ameritrade $0 commissions + transfer fee reimbursement. $0 $49.99 ($0 to sell) $0 $0
Wellstrade na $0 $35 $0 $0*


Wells Fargo & Company


WellsTrade and Wells Fargo Advisors are both owned by Wells Fargo & Company, a financial holding group that also owns Wells Fargo Bank. The financial giant also owns Wells Fargo Securities, which conducts investment banking. Wells Fargo & Company is one of the largest financial conglomerates in the world.


Comparison


Some on-line brokerage firms are not owned by a financial holding company. Vanguard and E*Trade are two examples. They only provide investment services. Vanguard has $7.2 trillion in client assets, far outdoing Wells Fargo’s banking and brokerage divisions combined. Vanguard has roughly 15,000 employees. Presumably, many of these workers are not investment advisors, so Vanguard must have fewer advisors than Wells Fargo.

One disadvantage of Vanguard is that it doesn’t have a network of branch locations. As we already saw, Wells Fargo does have locations throughout the U.S. These offices are typically located inside a Wells Fargo Bank branch.

E*Trade is owned by a larger financial conglomerate. The broker-dealer has slightly north of $420 billion in client assets, making it quite a bit smaller than Wells Fargo’s brokerage division. Besides self-directed accounts, E*Trade also offers managed services. But unlike Wells Fargo, E*Trade has only 30 branch locations where clients can meet with an investment advisor. Because of E*Trade’s smaller size, the broker-dealer doesn’t operate its own brand of mutual or exchange-traded funds. Wells Fargo does have a long list of mutual funds. However, E*Trade has a robo-advisory service, which WellsTrade still lacks.


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Ally Invest AUM
Ameritrade assets under management
M1 Finance AUM


Wells Fargo DRIP Plans


For investors who are wondering if Wellstrade (Wells Fargo brokerage arm) offers dividend reinvestment program, the answer is "Yes". As part of Wells Fargo Direct, participants can reinvest all or some of their cash dividends in Wells Fargo common stock. Customers can enroll online or call 1-877-840-0492 to be mailed an enrollment kit including a plan prospectus.

Other online broker dividend reinvestment plans are listed under this link.


Wellstrade Overview


Wells Fargo has succeeded in offering brokerage services with a good selection of mutual funds. Some of its fees, however, are above average. Its trading tools are inadequate, and it fails to offer any commission-free ETFs. Investors can find better values at TD Ameritrade, Fidelity, and Firstrade.


Wells Fargo AUM


Wellstrade Pros

- Wellstrade offers a full range of banking services through the parent company Wells Fargo Bank

- The broker has a good selection of independent investment research amenities


Wellstrade Cons

- For equities below $1 per share Wellstrade charges commission that is greater of $34.95 and 3.5% of principal

- Wells Fargo Investments offers disappointing trading tools

- Wellstrade margin rates are high, starting at 10.5% for balances under $25,000

- For accounts under $5,000 there is an annual $25 minimum balance fee

- The brokerage has short after-hours trading: 4:05 pm - 5:00 pm EST


About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.