Wells Fargo’s ranks of financial advisors continue to dwindle even as it has bolstered its recruiting efforts, including increased due-diligence meetings and generous rewards for external headhunters.
The bank’s wealth and investment management unit shed a net 236 advisors during the first three months of the year, according to its first-quarter report. Headcount stood at 13,277 at the end of March—down by 1.7% from the previous quarter and 7.6% from a year earlier.
Wells…
