Wells Fargo Advisors

Wells Fargo Advisors

 3.9/5 (370 ratings)
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About Wells Fargo Advisors

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Wells Fargo Advisors is a financial advising company that offers services for guided portfolio management, self-management and robo-advising. The company is not a fiduciary and requires annual fees and transaction fees, but it doesn’t charge trading fees for stocks or ETFs. Wells Fargo Advisors has locations in all but thirteen states.

Overall Satisfaction Rating

  • 5 stars
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  • 3 stars
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Pros

  • Multiple investment services
  • Free consultation
  • Accounts on mobile

Cons

  • Not FDIC-insured
  • No locations in some states

Bottom Line

Wells Fargo Advisors is an investment service and advisor company. It’s a non-bank affiliate of Wells Fargo Bank. Its three main plans are self-managed, robo-advisor and dedicated advisor.

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Rated with 5 stars
Verified

Jared… exhibited several outstanding qualities, while administering my mother’s finances since January 2018. As a Financial Representative / Advisor; Mr. ** is knowledgeable, atte...

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Rated with 5 stars
Verified

We've been clients for well over a decade. Our long-time advisor passed away. He had taken considerable effort to be sure he transferred his clients to the 'right' person. After o...

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What is Wells Fargo Advisors?

Wells Fargo Advisors is an investment services and financial solutions company. The company is a non-bank affiliate of Wells Fargo Bank. It offers a variety of services in investing, IRAs, borrowing, insurance, advisory and more.

Wells Fargo Advisors has more than 12,000 advisors across the nation. The company provides in-person help, over-the-phone advice and online tools to help clients manage their accounts. It’s important to note that the company’s investment and insurance products are not insured by the FDIC or any government agency.

How does Wells Fargo Advisors work?

There are three main services Wells Fargo Advisors offers: WellsTrade Brokerage Account, Intuitive Investor Account and Dedicated Financial Advisor.

  • WellsTrade Brokerage Account: This low-cost service allows clients to invest online independently. Clients can trade stocks, ETFs and no-load mutual funds from their mobile device. There’s a DIY toolkit to help investors make informed decisions, as well as 24/7 phone assistance.
  • Intuitive Investor Account: This is a robo-advisory account that allows clients to invest without the hassle of picking stocks, trading and otherwise tracking the market. Portfolios are matched to the client’s interests and risk tolerance. The accounts are monitored day to day and are automatically readjusted.

    Clients also get access to professional advisors for a small annual fee. The account requires a minimum investment of $5,000. It also has a 0.35% annual advisory fee, plus other fund-related expenses.

  • Dedicated Financial Advisor: This is a full-service account for those interested in customized guidance. Clients get a dedicated advisor to create a personal portfolio. Your advisor is there to help with your investing questions or other financial matters. If you’re curious, you can take advantage of a free consultation.

Wells Fargo Advisors fees

Wells Fargo Advisors fees depend on the products and services you choose. The WellsTrade account has an annual fee of $30 per household. There is no fee for stock or ETF trades, but some mutual funds have a transaction fee of $35.

The Intuitive Investor account has an annual fee of 0.35% of your account value. The minimum deposit for this account is $5,000. The cost of a dedicated financial advisor is based on the services you select. The advisor then provides you with a fee structure.

The payment method depends on whether you choose investment advisory or brokerage services. Investment advisory is paid based on a percentage of assets in your account. Brokerage services involve a cost per transaction.

Wells Fargo Advisors FAQ

Is Wells Fargo Advisors a fiduciary?

Wells Fargo Advisors is not a fiduciary. Wells Fargo Bank does offer some fiduciary services, but Wells Fargo Advisors is a separate, non-bank affiliate. This means advisors aren’t beholden to fiduciary rules.

Where is Wells Fargo located?

Wells Fargo has a corporate headquarters in San Francisco, California. You can connect with Wells Fargo advisors at office locations and over the phone. There are currently no Wells Fargo locations in:

  • Hawaii
  • Indiana
  • Kentucky
  • Louisiana
  • Maine
  • Massachusetts
  • Michigan
  • Missouri
  • New Hampshire
  • Ohio
  • Oklahoma
  • Vermont
  • West Virginia
How does Wells Fargo Advisors get paid?

Wells Fargo Advisors get paid fees and commissions from the products it sells. When you choose a financial advisor, the two of you establish your fee structure for your desired services.

Is Wells Fargo Advisors the same as Wells Fargo Bank?

Wells Fargo Advisors is not the same as Wells Fargo Bank. It’s a separate affiliate, and it’s a non-bank entity.

Is Wells Fargo Advisors FDIC-insured?

Wells Fargo Advisors is not FDIC-insured or insured by any other federal government agency.

Is Wells Fargo Advisors good?

Wells Fargo Advisors is a good business for investors and those seeking financial advice. It helps that the company is an affiliate of the well-established Wells Fargo Bank — it’s easier for people to trust a name they already know. Clients who already bank with Wells Fargo can save on Wells Fargo Advisors services.

The company has an investing level for anyone interested. There’s a robo-advisor account for people who are more interested in setting something up and letting it self-regulate. If you’re confident in investing without advice, you can choose an independent investment account. If you want someone to take on the responsibility for you, you can choose to work with a dedicated financial advisor who will guide you and keep you informed.

Wells Fargo Advisors insurance and investment products aren’t backed by the FDIC or other government agencies. That said, you’re always taking some amount of risk when you invest your money. Ultimately, Wells Fargo Advisors is a good option for investment services and other financial products.

Wells Fargo Advisors Reviews

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How do I know I can trust these reviews about Wells Fargo Advisors?
  • 4,151,585 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

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Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: Nov. 21, 2022

My stepmother passed away over 2.5 years ago, and left the bulk of her financial accounts to my brother and me. While things got slowed down by the pandemic and probate court issues, it still took a considerable time to get the tax paid money out of WF Financial Services, and even then, I had to amend my 2021 tax return because I didn't get the correct information from WF regarding capital gains until a few months ago. Since then, for about a year now, we have been trying to get the tax deferred money from the one remaining account released to us. It has just been a continuous cycle of excuses, lost paperwork, more excuses, and, in my opinion, incompetent delays. There is no way I would ever let them handle a account for me.

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Rated with 1 star
Verified Reviewer
Original review: Aug. 17, 2022

Horrible Experience dealing with Wells Fargo all the way around. Short version - Father passed away October 2021. Documents that Wells Fargo stated they needed sent in end of October beginning of November. Needed to wait for judge to issue summary for the estate which happened February. Documents sent. Wells Fargo stated they didn't receive them. Went to Wells Fargo Bank mid March. The Rep was on the phone with estate processing and all required documents were faxed (22 pages). Since then they have requested the same documentation. Won't talk to me because I am not "authorized". Called back in June - they needed to speak to executor. She talked with Wells Fargo and let me know they needed to verbally verify that she opened the new account - strange????

No less than 4 of the requested document - yes a single document - that they needed have been sent. And, they requested another of the same document on June 9th that had already been sent! Both times I called the employees were working from home. Not sure if it is strict quotas or if they need to meet to continue working from home or certain production levels, but they keep losing document(s). Funds should have been released by end of March early April. IT IS NOW AUGUST going into SEPTEMBER.

5 people found this review helpful

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    Rated with 1 star
    Verified Reviewer
    Original review: July 21, 2022

    We spend a lot of time in Europe and have been trying for quite some time to wire transfer some of our funds over here to our foreign bank. Over the last several months, we have spent countless hours on the phone with a variety of bankers, supervisors and managers, in an attempt to wire transfer some of our money - all to NO AVAIL!! We have been disconnected, hung up on, insulted, accused of negligence and to add insult to injury we have been charged $95 in bank fees, every time the BANK cancels OUR wire!! We have been Wells Fargo customers for MANY years and are absolutely disgusted with their overseas service. Being treated like CRIMINALS is just deplorable! We just want to clear out our accounts and NEVER deal with Wells Fargo again! Extremely disgruntled WF customers.

    6 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 21, 2022

    Since the pandemic started they think they just can do whatever they want. They're give you an overdraft fee for something you already paid for even if your account is in the positive. They will make up something on why your account is randomly in the negative then they will overdraft their overdraft so putting in a worst position. Then when you talk to a representative and ask if they can take the overdraft away so the account be back in the positive. They give an excuse that during the pandemic when people couldn't work they and had a overdraft fee taken away once that they don't do that anymore. So in my opinion they're scamming and crooks. Let see when you a penny short and ask the government for another bail out from your honest working tax payers money. Thank you.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 27, 2022

    I am a co-trustee with my brother of my late mother's revocable trust. Upon her death, I attempted to close the account. I was required to upload her death certificate, an Affidavit of Domicile, and a Certificate of Trust. They still won't let me trade the account. When they finally approve the trades, they will require my brother and me to each open an account in each of our names.

    The account is in a revocable trust. Wells Fargo does not have the legal authority to direct trust funds to beneficiaries or fiduciary duty. Therefore, we want to close the account and have them cut a check to the revocable trust so we can perform our fiduciary responsibility. A word to the wise, avoid Wells Fargo like the plague. They are trying to force us to open new accounts to churn fees.

    8 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 20, 2022

    I have been directed to a specific department based on what service I needed. I call the number provided, 855-877-7904. For three consecutive days I was put on hold, each progressively longer. First call, 1:45, second call 2:01, third 3 hours and 5 minutes, still nobody ever picked up. All done within business hours. Unacceptable!

    5 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: March 29, 2022

    As the saying goes, if I could give less than 1 start review I would! Please stay away from Wells Fargo Advisors. My dad passed way in September of 2021 so we tried to move his portfolio to my ailing mom who was the beneficiary a month later. His advisor no longer worked for Wells Fargo so it took about 1 month for WF to assign another advisor named Ricardo ** in to transfer the account. We knew time was of the essence because of my mom's condition and she recently passed away recently passed away. However, over 6 months later NOTHING has been done from Ricardo ** or anyone at WF to transfer. I now have to deal with them transferring my mom's portfolio to us which will be another migraine headache.

    I made a complaint to WF about Ricardo ** but it's not only he who's irresponsible and at fault. It's his supervisors and the entire WF company. Maybe they wait for everyone on the family to die so the money gets tied in their account to make more interest. We are not able to make any trades or do anything with with the stock portfolio until I don't know when. I will look into suing WF for their incompetence. They can't just hijack customers' accounts and taking as much time as they want.

    13 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: March 23, 2022

    On 1-27-22 I went to a Wells Fargo bank ATM to deposit some money. After I deposited the money it didn't show up on the ATM screen as if I dropped the money in a hole. I called CS to file a claim for $259 cause that's what I had deposited. Well Wells Fargo gave temporary credit for $259. Last week I received a letter stating that the technician didn't find any money in the ATM and that the ATM was not tampered with so on the 23rd of March I would have to refund them that $259 back. I called them right away. I said if I wanted to steal from a bank it wouldn't be $259. I would of gone for way more money. What tick me off is they act like I'm the liar and the technician is the one being honest. Anyways now I'm negative $55 'cause Wells Fargo decided to go into my account and take what they felt was theirs. I really hate Wells Fargo especially since I'm telling the truth.

    I even asked them to check their cameras 'cause after I deposited the money I was turning customers away from using the ATM and I left a note on the ATM to warn the customers. Anyways if I was lying what was the reason of doing all that. I learned my lesson. I will not be doing business with Wells Fargo after this month 'cause that is not the way to treat your customers and they claimed they did a thorough investigation. How is it thorough when they won't check their cameras to see me in panic mode. It's life.

    That's what the banks are really here for. To rob us and at the end of the day there's nothing that someone like me living from paycheck to paycheck could do about it. After I'm not sure I could ever trust a bank even though I never had any problems with none of the other banks but now I just feel very worthless, powerless worse of all violated 'cause I have no power to do nothing about the situation. All I can do is accept it and ask God to heal my broken heart so I can make peace with what happened. It's life!

    10 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: March 17, 2022

    Advisers are not able to guide you through an investment of my choice. Too much and too long for investment process. WellsFargo advisers are not expert in their job. Look elsewhere to invest your money.

    10 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Feb. 17, 2022

    The branches are no help & shut down online banking and cannot get answers to anything. Also John w/ investments won't help even after I asked since it was my husband's money and he passed away and I was told, "Don't worry about it I'll do it." No you need to teach people who ask & not to be treated as stupid. I'm taking all money to a better bank who actually answers questions & will show you how things work. They need training w/ their employees.

    11 people found this review helpful
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    Wells Fargo Advisors Company Information

    Company Name:
    Wells Fargo Advisors
    Year Founded:
    1852
    Address:
    One North Jefferson
    City:
    St. Louis
    State/Province:
    MO
    Postal Code:
    63103
    Country:
    United States
    Website:
    www.wellsfargoadvisors.com