Should You Follow Your Financial Advisor to Wells Fargo?

General
1

My financial advisor and I get along well, but he transferred from Edward Jones to Wells Fargo. Do I have to relocate as well?

My experience with EJ was satisfactory, albeit the charge is 0.5% more than it would be with WF. I was able to receive an 18% return over a four-year period, which assisted me in making my house’s down payment. I am afraid to move because my guy performed an excellent job right away and we always spoke and met.

Potential hidden costs, Wells Fargo’s standing, and the fact that this business is not included among the best advisors are the reasons I’m worried. Does anyone know anything about Wells Fargo advisors? Regards ahead of time.

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2

The person did a great job from the start and always communicated and met regularly. I’m hesitant to make a change.

Your relationship is with the individual advisor, not the brokerage firm. If you’re satisfied with the financial advisor and switching will reduce your fee by 50 basis points, why wouldn’t you stay with the current advisor?

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3

I was thinking about moving with him because of this, but after reading the information he gave, I had some concerns.

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4

Ask him the questions not us :joy: :joy:

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5

I am already scheduled to meet next week.

My financial advisor will address my concerns, but I would like to hear other people’s experiences to get perspectives that might not be shared due to potential bias.

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6

FYI, an 18% return over 4 years is awful. That is a yearly return of hardly 5%.

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7

Did he join an independent company that is a member of the Wells Fargo Financial Network (FiNet) or did he start working directly for WFA?

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8

Not immediately, as I discovered. merely applying their findings.